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BTR Daily - September 17, 2025 - Griffin Capital launches BTR division

BTR Daily - September 17, 2025 - Griffin Capital launches BTR division

NewStar subscribes $13.6 million BTR DST offering. Middle Street and Singerman launch BTR project in Charleston. Walker & Dunlop appoints new board member. The shifting landscape of rental housing: SFRs vs multifamily. Two new BTR deals.

Matt H & Aid Sopjani
September 17, 2025

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NEWS ROUNDUP

EXPANSION: Griffin Capital launches BTR division. Griffin Capital has launched Griffin Capital Residential Partners (GRP), a new BTR division focused on acquiring, developing, and operating purpose-built rental communities in high-growth U.S. markets. The platform will be led by Jonathan Trott and David Platter, both former co-CEOs of the BTR division at Amherst, who now serve as co-CEOs of GRP. The move expands Griffin’s commitment to rental housing investment.

FINANCING: NewStar fully subscribes $13.6 million BTR DST offering. NewStar Exchange has fully subscribed NewStar 14 Hadley Crossing, DST, raising $13.6 million from Section 1031 exchange investors. The 44-home BTR community in Charlotte, N.C., was 93% leased within eight months, delivering a 4.36% Q2 2025 distribution. CEO Boone DuPree noted this marks NewStar’s fourth DST close-out, with over $60 million raised since 2022.

DEVELOPMENT: Middle Street and Singerman launch BTR project in Charleston. Middle Street Partners and Singerman Real Estate will co-develop Atlantic St. Thomas, a 71-unit BTR townhome community on Daniel Island in Charleston, with move-ins expected by spring 2027. This marks Middle Street’s first BTR project. Homes will span 1,565–2,500 sq. ft. with rooftop terraces, garages, and dens in select units. The team includes Middle Street Construction, Sitecast, Cissell Design Studio, Studioforme, and Terminus Design Group.

PEOPLE MOVES: Walker & Dunlop appoints new board member. Walker & Dunlop has appointed Ernest (Ernie) Freedman to its board of directors and Audit and Risk Committee. Freedman previously held executive roles at Aimco, HEI Hotels, GE Real Estate, and Ernst & Young. Chairman and CEO Willy Walker praised Freedman’s experience, while Freedman expressed admiration for the firm's growth and leadership.

READ: Mid-sized metro areas outpace national SFR rent growth.