BTR Daily - September 1, 2026 - NASB provides $8.5M in financing

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NEWS ROUNDUP

FINANCING: NASB finances 32-unit Phase II BTR development. NASB has provided $8.5 million in construction financing for the second phase of a BTR development in Fort Collins, Colorado. The financing will support construction of eight buildings totaling 32 residential units within Bloom, a 230-acre master-planned community featuring a clubhouse, walking trails, parks and a swimming pool. The transaction supports NASB’s broader strategy of expanding its homebuilder lending program in growing regional markets and financing residential developments designed to meet evolving local housing needs.

DEVELOPMENT: LV5 Capital expands into Texas and Oklahoma. LV5 Capital has expanded beyond its Midwest base by co-investing in three multifamily and BTR communities across Texas and Oklahoma totaling 729 units. The investments include a 294-unit Class B value-add apartment community in Austin sponsored by TR3 Capital, a 206-unit BTR community in Waco developed by Red River Development, and a 229-unit apartment community in Lawton that is 96% occupied. Managing Partner Jeff Dulmage said the firm applies the same fundamentals-based underwriting approach across all markets and invests its own capital alongside investors. LV5 Capital, led by Dulmage, Partner Doug Schweitzer and Capital Partner Jason Mazard, reports more than $100 million in assets under management, over 812 units overseen and more than $20 million in equity raised.

AWARD: HG Fenton and KTGY earn design award for California BTR. H.G. Fenton’s BTR community in Carlsbad, California, designed by KTGY, received the Best BTR Community Product Design award for its emphasis on livability, durability and a single-family-style resident experience. Community amenities include a tot lot, hammock garden, dog park, putting greens, barbecue area and pickleball court.

DEVELOPMENT: JCCG expands Florida BTR portfolio with 75-home Gainesville development. Jim Chapman Construction Group is expanding its Florida presence as general contractor for a 75-home BTR community in Gainesville owned and managed by AREY Group. The project will include 75 attached single-family rental homes, eight garage buildings, a maintenance building, clubhouse and resort-style swimming pool. JCCG CEO Jim Chapman said the development reflects the company’s strategy of meeting rising rental demand across growing Southeast markets, while President Chris Mancuso emphasized the project’s focus on resident comfort, convenience and community-oriented amenities. Horizontal construction began in July 2026, vertical construction is expected to start in the third quarter, leasing is targeted for the second quarter of 2027 and completion is anticipated later in 2027.

READ: Second quarter declines for single-family BTR.

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