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BTR Daily - October 2, 2025 - Cushman & Wakefield brokers $24.45M sale

BTR Daily - October 2, 2025 - Cushman & Wakefield brokers $24.45M sale

AMH plans 178-unit BTR. JLL arranges $14.25M bridge loan. JLL secures $38.7M. SFR growth falls below pre-pandemic average in July. Two new BTR deals.

Matt H & Aid Sopjani
October 02, 2025

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NEWS ROUNDUP

DISPOSITION: Cushman & Wakefield brokers $23.45 million sale. NextWave Investors, led by David Sloan, has acquired Ascension at Manistee Ranch, a 71-unit BTR townhome community in Glendale, for $23.45 million from Kinella Capital (principal TK Stratton). Originally stalled and foreclosed, the project was bought by Kinella from Trez Capital in early 2024 and completed before stabilization. Cushman & Wakefield’s David Fogler and Steven Nicoluzakis brokered the sale.

DEVELOPMENT: AMH plans 178-unit BTR community in North Carolina. AMH has filed preliminary plans to build 178 duplexes and townhomes on Olive Branch Road near Brier Creek in Durham. The Las Vegas-based firm would add 40 townhomes and 138 duplexes, including 11 affordable units, on the 68-acre site.

FINANCING: JLL arranges $14.25 million bridge loan for Florida BTR. JLL has arranged $14.25 million in construction takeout bridge financing for a luxury BTR community in Fort Pierce, Florida. The non-recourse debt was provided through a publicly traded mortgage REIT, enabling the sponsor to retire construction debt and return equity capital to LPs. The JLL team included Max La Cava, Pier Barinci, Abbie Kushner and Jade Starkey.

FINANCING: JLL secures $38.7 million financing for 199-unit BTR in Georgia. JLL has arranged $38.7 million in financing for Clear Lake Reserve Townhomes, a 199-unit BTR community in Pooler, Georgia, developed by 360 Communities and Rockpoint. The three-year, floating-rate loan was provided by Western Alliance Bank. JLL’s Chris Drew, Matthew Putterman, and Kenny Cutler led the financing effort.

READ: Single-family rent growth falls below pre-pandemic average in July.