BTR Daily - September 2, 2025 - Northmarq arranges sale of 91 units

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NEWS ROUNDUP

DISPOSITION: Northmarq arranges sale of 91 units. Northmarq has arranged the sale of Bower Gateway & Bower Hudson Crossing, a 91-unit BTR portfolio in Arizona. Northmarq’s Logan Baca, Ryan Boyle, Trevor Koskovich and Jesse Hudson arranged the sale.

DEVELOPMENT: Center Park Group begins vertical construction at Charlotte BTR. Center Park Group has started vertical construction on The Groves, an 82-unit BTR townhome community next to University Research Park in Charlotte. Developed with Canvas Residential, the project broke ground in May 2025 and remains on track for completion in July 2026.

MARKET: America’s single-family rental market splinters in 2025. Single-family rents rose 2.9% year-over-year in June, according to the Cotality Single-Family Rent Index. Chicago led major metros with a 5.7% increase, followed by New York at 5.5%, while Philadelphia and Los Angeles each rose 3.5%. By contrast, Detroit, Washington DC, Atlanta, Houston, and Dallas all fell below the national mark, and Miami rents slipped 0.5%.

MARKET: SFR market update. The SFR market in August 2025 is shifting from shortage to surplus, with 2024 completions hitting 1.6M units (1M single-family) and slowing permit activity signaling fewer future deliveries. Rent growth has softened under the weight of new supply, but with 30-year mortgage rates near 7% and price-to-income ratios at record highs, renting remains more affordable. Regionally, permitting fell hardest in the South and West, while metro trends diverged, with top-permitting cities seeing average rent declines of –2.5% versus +2.9% growth in the lowest-permitting metros.

READ: Fed rate cuts don’t mean lower bond yields. 

BTR FOR SALE

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Forward Sale Opportunity | 79 Units | 12.25 Acres | Three-, Four-, and Five-Bedroom Layouts | Class A

160 Units | Built in 2024 | Strong Lease-Up Performance

ONE MORE THING

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