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BTR Daily - September 29, 2026 - Brittenum and Realty Capital secure $53M refinancing

BTR Daily - September 29, 2026 - Brittenum and Realty Capital secure $53M refinancing

AB CarVal and North River acquire $340M portfolio. Woodfield delivers first BTR townhomes at 325-home community. Third Lake breaks ground on 250-home BTR. Single-family rent growth slowing to 1.8%. Two new BTR deals.

Matt H & Aid Sopjani
September 29, 2026

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NEWS ROUNDUP

FINANCING: Brittenum and Realty Capital secure $53 million refinancing. A JV between Brittenum Group and Realty Capital Partners has secured $53M in refinancing for a 235-home BTR community in Rogers, AR. John Brickson, managing director in Marcus & Millichap Capital Corporation's Dallas office, arranged the three-year, nonrecourse loan, which repaid the borrower's construction loan ahead of maturity. The Class A community is 94.5% occupied and has 123 detached two-story cottages and 112 attached townhome-style homes, plus a pool, fitness center, golf simulator, clubhouse with co-working offices, package lockers and a pickleball court. Brittenum Group, led by CEO Jon Brittenum, develops single-family, townhome and BTR communities across Northwest Arkansas.

ACQUISITION: AB CarVal and North River acquire $340 million portfolio. Funds managed by AB CarVal, part of AllianceBernstein's private alternatives business, have acquired a $340M portfolio of performing construction loans alongside North River Partners. The portfolio has 10 loans on multifamily and single-family BTR projects in various stages of construction across seven U.S. metros. North River Partners, an existing AB CarVal partner, will manage the portfolio, and the two firms previously teamed up on $98M in construction loans. Scott Greenfield, principal with AB CarVal, said the deal expands the firm's footprint in multifamily construction credit and shows its ability to find relative value across commercial real estate credit, adding that the firm continues to use its flexible mandate and sourcing network to buy what it views as high-quality assets.

DEVELOPMENT: Woodfield delivers first BTR townhomes at 325-unit community. Woodfield Development has delivered the first 25 BTR townhomes at a 325-home mixed-income community in Atlanta. The project combines apartments, BTR townhomes and live-work homes, with 66 affordable and workforce units and more than 12,000 square feet of retail, including shipping container storefronts for small businesses. Brett Bowden, director of development at Woodfield, said the first deliveries mark the shift from construction to community and called the project an investment in one of Atlanta's most historic neighborhoods.

DEVELOPMENT: CBI Construction and Third Lake breaks ground on 250-home BTR in Florida. Third Lake Development has broken ground on a 250-home BTR community of cottage-style homes on a 33.2-acre site in St. Augustine, FL. CBI Construction is the general contractor, and Nequette Architecture & Design designed the community. CBI said the project continues its partnership with Third Lake and credited its own team and trade partners for helping bring the community to life. Tampa-based Third Lake develops multifamily, BTR and self-storage communities across the Southeast and has delivered more than 6,000 units and over $700M in total development value.

READ: Single-family rent growth slowing to 1.8%.

BTR SUMMIT - PANELISTS ANNOUNCED

Join hundreds of BTR owners, developers, investors, and brokers for a premier build-to-rent event in Atlanta on November 10th. Hear from the CEOs of Parkland Residential, ARK Homes For Rent, Trilogy Investment Company, Center Park Group, Jim Chapman Construction, Laseter Development Group, and more!

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*Only a handful of Early Bird tickets remain at a $100 discount