On the heels of a strong 2023, the single-family rental (SFR) sector is positioned to expand even more in 2024. Build-to-rent (BTR) starts ticked up in the third quarter to reach 7.8%, another record high. With occupancy rates stable and lease renewal rent growth above historical averages, SFR has healthy fundamentals that will continue to support growth amid headwinds, Arbor’s Single-Family Rental Investment Trends Report Q1 2024, developed in partnership with Chandan Economics, shows.
Success Story: Large Single-Family
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$32.1M Single-Family Rental Build-to-Rent Loan
An experienced developer of luxury single-family rental (SFR) communities had begun construction on a 250-unit luxury build-to-rent (BTR) community in San Antonio, TX, poised to be the largest community of its kind in the metro. To continue construction velocity, the borrower was looking for ground-up construction financing to fund the development, with the goal of refinancing to a permanent agency loan once construction was completed and the property was stabilized. At the time, there were limited financing options in the SFR space. The borrower reached out to Arbor for assistance due to the strong relationship and previous successful projects together.