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BTR Daily - September 25, 2025 - Liberty Investment Partners to develop 106 units

BTR Daily - September 25, 2025 - Liberty Investment Partners to develop 106 units

Trilogy, Pinnacle Partners launch 172-unit community. Sallee Development sells $113M portfolio. Porter Kyle secures $28.5M refi. Single-family rent growth cools across US metros in July. Two new BTR deals.

Matt H & Aid Sopjani
September 25, 2025

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NEWS ROUNDUP

DEVELOPMENT: Liberty Investment Partners to develop 106-unit BTR in North Carolina. Liberty Investment Partners, in partnership with Windsor Companies and Ridge Real Estate Partners, is developing Greenbrier Park Townhomes, a 106-unit BTR community in Garner, North Carolina. Construction is slated to begin in Q3 2025, with the first units delivering in early 2027 and full completion by Q3 2027. Liberty spent five years assembling the 15.74-acre site—spending $4 million across five parcels—citing its proximity to downtown Raleigh and the Garner Town Square as a key advantage.

DEVELOPMENT: Trilogy, Pinnacle Partners launch 172-unit BTR in Alabama. Trilogy Investment Company and Pinnacle Partners have completed lot delivery and horizontal construction for REV3 at The Celeste, a 172-unit BTR townhome project in Huntsville, Alabama. The development is part of Trilogy’s Sun Belt-focused Opportunity Zone fund. Trilogy CEO Jason Joseph said Huntsville’s growth, fueled by its NASA and defense industries, makes it ideal for high-quality rental housing. Leo Backer, Managing Partner at Pinnacle, emphasized the city’s alignment with their Opportunity Zone strategy. REV3 Homes will serve as the builder.

DISPOSITION: Sallee Development sells $113 million BTR portfolio. Sallee Development has completed the $113 million sale of a suburban BTR portfolio spanning over 500 homes across multiple Kansas City communities. Brokered by Walker & Dunlop, the sale reflects rising institutional interest in professionally managed suburban rentals. “This is a validation of our team’s vision and Kansas City’s potential as a premier BTR market,” said Sallee CEO Tyler Sallee.

FINANCING: Porter Kyle secures $28.5 million refinance for 100-home BTR. Porter Kyle has closed a $28.5 million refinance for The Cleveland, a 100-unit BTR community in Goodyear, Arizona. The financing was arranged by Northmarq’s Debt & Equity team, led by Brandon Harrington and Tyler Woodard. Taylor Shultz, Partner at Porter Kyle, said the project reflects their strategy of building thoughtfully designed BTR communities in high-growth markets.

READ: Single-family rent growth cools across US metros in July.

BTR FOR SALE

Click each image for more information:

Cali Cove | 5301 Taylor Road, Punta Gorda, FL 33950

Forward Sale Investment Opportunity | 89 Units | Construction to Begin in May 2025 | Homes Take About ~4 Months to Complete

Annex at Cadence | 9411 E Cadence Pkwy, Mesa, AZ 85212

135 Units | Luxury Built | Attached 2-Car Garages | Private, Enclosed Patios | 96% Occupied

ONE MORE THING

This is another interesting one. "At what cap rate would you aggressively deploy capital?"
Survey says for multifamily: 6.6%.
That's ~100 bps above current average.
In other words: Most investors are still sidelined.
— Jay Parsons (@jayparsons)
1:37 PM • Sep 16, 2025

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