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BTR Daily - September 15, 2026 - Capstone Communities breaks ground on $60M BTR

BTR Daily - September 15, 2026 - Capstone Communities breaks ground on $60M BTR

Canyon Partners and JP Morgan provide $74.7M construction loan. Canvas Residential completes 222-unit BTR. Mandrake Capital completes North Carolina community. Best cities to buy SFR homes

Matt H & Aid Sopjani
September 15, 2026

Good morning. Welcome to BTR List! In each issue, we cover the top stories, trends, and listings in build-to-rent and single-family rentals.

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NEWS ROUNDUP

DEVELOPMENT: Capstone Communities breaks ground on $60 million BTR. Capstone Communities has broken ground on a $60 million BTR development in Bloomingdale, Georgia, about 17 miles west of Savannah. The 33-acre project will include 263 rental units along with amenities such as a resort-style swimming pool, pickleball court, grilling areas and a dog park. CBI Construction is serving as general contractor, while Nequette Architecture & Design is the architect. Completion is scheduled for February 2027.

FINANCING: Canyon Partners and JP Morgan provide $74.7 million construction loan. Canyon Partners Real Estate and J.P. Morgan have co-originated a $74.7 million senior construction loan for a 180-unit BTR townhome development in Riverside, California. The project, located in the Mission Grove neighborhood and being developed by BCT Development, will feature three-story two-, three- and four-bedroom townhomes with private entrances, direct-access garages and amenities including a pool, fitness center and clubhouse. The financing marks Canyon’s second senior construction loan to BCT Development in 2026, following a $91.3 million loan in March for a separate 232-unit Riverside townhome project.

DEVELOPMENT: Canvas Residential completes 222-unit BTR in Georgia. Canvas Residential Partners has completed a 222-unit BTR community in McDonough, Georgia, marking the firm’s first project in metro Atlanta. The development was financed with a $40 million construction loan from Atlantic Union Bank, with Center Park Group serving as general contractor and Greystar handling property operations.

DEVELOPMENT: Mandrake Capital completes North Carolina BTR. Mandrake Capital Partners has completed final unit deliveries at a BTR community in Cramerton, North Carolina, with the property approximately 80% leased as it moves toward stabilization. The community offers three- and four-bedroom detached homes and townhomes with fenced yards and two-car garages, along with amenities including an amenity center, walking trail, swimming pool, grilling area and fire pit. Ed Oprindick, president of Mandrake Capital Partners, said reaching 80% leased at final delivery reflects strong demand for high-quality rental housing in Cramerton.

READ: Best cities to buy SFR homes in 2026.

BTR SUMMIT - PANELISTS ANNOUNCED

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