Republic Property Group has secured $52.3 million in financing for the construction of two build-to-rent (BTR) communities. The properties are in Grand Prairie, Texas, and Brighton, Colo.
IPA Capital Markets, a division of Marcus & Millichap (NYSE: MMI), worked on behalf of the borrower to secure and structure two bank loans and $10.4 million in preferred equity.
“The BTR asset class has been the fastest-growing segment of the U.S. housing market, outpacing both the single-family home and multifamily housing sectors,” said Tony Ruggeri, co-CEO at Republic Property Group. “Our decades of experience in the for-sale master-planned community space has forged our unique approach in the BTR space. The result is communities that live like neighborhoods while offering an attainable alternative to for-sale homes.”
The projects include Villas at Bardin, which will be in in the Dallas–Fort Worth metro area, and Ridgeline Vista Townhomes in the Denver MSA. Bot
