Bain Capital Real Estate and Cherry Tree Capital Partners have formed BCT Development, a strategic joint venture focused on the ground-up development of premier rental townhome communities throughout Southern California.
The joint venture launches to deploy several hundred million dollars of gross capital over the next several years.
BCT Development will initially focus on acquiring, entitling and developing land in Southern California’s highest-growth suburban markets with the goal of providing differentiated rental product by way of elevated townhome communities. The partnership plans to target developments in growing neighborhoods, ensuring that residents have access to the best-in-class amenities, schools and entertainment options.
Chris Marsh and Tim Stanley, who together previously oversaw an aggressive 22,000-plus unit multifamily development pipeline as executives of Irvine Company, launched Cherry Tree Capital Partners in 2021 and will lead the new BC
