Crescent Communities and Heitman have formed a second joint venture to invest in Crescent Communities’ single-family build-to-rent platform across key strategic growth markets. This second venture will begin with an initial commitment of $240 million, with the ability to expand up to $340 million, and will fund approximately six communities across attractive Sun Belt and emerging growth states.
“Launching a second joint venture with Heitman is a powerful validation of our team’s ability to identify and deliver high-quality development opportunities within this growing sector,” says Tony Chen, senior managing director of single-family build-to-rent at Crescent Communities. “As our first joint venture portfolio nears its initial community openings, we are proud to deepen our relationship with Heitman to expand the HARMON brand and further establish Crescent Communities as a leader in the single-family build-to-rent space.”
Ashish Karamchandani, managing direc
