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BTR Daily - September 4, 2025 - Matthews brokers sale of 98-unit SFR community in Texas

BTR Daily - September 4, 2025 - Matthews brokers sale of 98-unit SFR community in Texas

Center Park, Canvas launch 73-unit BTR. LeoTerrato focus on BTR. Tricon opens new BTR community in California. Strategic vision in BTR: market recovery & future outlook. Two new BTR deals.

Matt H & Aid Sopjani
September 04, 2025

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NEWS ROUNDUP

DISPOSITION: Matthews brokers sale of 98-unit SFR community in Texas. Matthews Real Estate Investment Services has arranged the sale of Walker Place at Moonlight Park, a 98-unit SFR community in Hewitt, just south of Waco. Completed in 2023, the homes average 2,036 square feet and offer three- and four-bedroom layouts, attached two-car garages, and private backyards. Richard Waterhouse and Andrew Kopenec of Matthews represented the Texas-based seller. The buyer, a Boston-based real estate private equity firm, was not disclosed.

DEVELOPMENT: Center Park, Canvas launch 73-unit BTR townhome project near Charlotte. Center Park Group and Canvas Residential have broken ground on Marglyn at Matthews, a 73-unit BTR townhome community located just minutes from downtown Matthews, NC. Jason Esposito, CEO of Center Park Group, called the project “a continued commitment” to delivering high-quality, well-located rentals. Pre-leasing begins August 2025, with move-ins expected by September.

MARKET: LeoTerra to focus on BTR. LeoTerra’s President, Buddy Lyons, revealed that over the past year, the company has divested approximately $70–$80 million in assets. This strategic move is part of their broader effort to reposition their portfolio, focusing more on BTR.

DEVELOPMENT: Tricon opens new BTR community in California. Tricon Residential has launched a new 114-home BTR community in Rancho Cordova, CA, offering spacious, eco-friendly homes to middle-income families priced out of the housing market. Backed by a nearly $60 million investment from Blackstone and developed with Sares Regis and Signature Homes, the project targets essential workers with affordable, professionally managed housing featuring solar panels, EV-compatible outlets, and fenced yards.

READ: Strategic vision in BTR: market recovery & future outlook.