Blue River Lifestyle Communities Announces First CommunityAugust 30, 2023
Blue River Development Chats Build-to-Rent on IMN Spotlight InterviewSeptember 27, 2023
Blue River Development (BRD) celebrates a major milestone by closing eight Build-to-Rent (BTR) deals in partnership with Haven Realty Capital. Despite challenging conditions in the BTR market due to rising capital costs, BRD has maintained robust deal flow, successfully pairing builders with the right BTR groups and facilitating transactions from contract to completed homes.
“Haven Realty Capital’s acquisition of these eight properties underscores the resilience and dynamism of the Build-to-Rent market,” said Bobby Stamps, Director of Investment Sales at Blue River Development. “BRD continues to foster strong relationships between builders and BTR groups, resulting in deal closures that meet or exceed schedules.”
“Blue River does a great job of understanding our underwriting parameters and subsequently pairing us with builders and opportunities, which has enabled us to acquire a significant portfolio in the Southeast,” said Chris Turitto, Vice President with Haven Realty Capital.
Most recent BTR closings brokered by BRD involve several reputable builders:
Twin Oaks from Davidson Homes: 135 Townhomes in Huntsville, Ala.
East Ridge from Traton Homes: 38 units in Canton, Ga.
Greystone from Taylor Morrison: 75 Townhouses in Suwanee, Ga.
Overlook at Kennerly from Taylor Morrison: 109 units in Grayson, Ga.
Baxter Woods from Taylor Morrison: 55 units in Lawrenceville, Ga.
Bridlewood from Traton Homes: 127 Townhouses in Douglasville, Ga.
West Oak Trace from Traton Homes: 114 units in Powder Springs, Ga.
Townes at Calcutta from Davidson Homes: 85 Townhouses in Stockbridge, Ga.
“We at Taylor Morrison are grateful to the Blue River team for not only bringing us an offer from Haven Realty Capital for the acquisition of Overlook at Kennerly, Baxter Woods, and Greystone but also for working hand in hand with both parties throughout the process to get contracts executed, and the deals closed,” said Mason Maynard VP of Land Acquisition with Taylor Morrison. “Whether it’s acquiring a land deal or selling homes at certificate of occupancy, it is a pleasure to do business with Blue Rive Development.”
Michael Cooper, Managing Principal at BRD, emphasized, “These BTR closings validate our market acumen and ability to navigate tough times. It’s not just about closing deals; it’s about building enduring partnerships.”
Brad Cooper, Managing Principal at BRD, said, “We aim to help builders reach their sales goals effectively, and these most recent closures exemplify that commitment. Also, as a Gold sponsor of the upcoming IMN conference in Vegas, we look forward to sharing insights and celebrating these achievements at our hosted cocktail party.”
Over the past year, BRD has had a hand in brokering thousands of lots in the BTR space, including previous deals with Trilogy, Tricon Residential, Quinn Residences, AMH Homes, ResiBuilt and Century Communities.
Blue River Development is hosting an exclusive cocktail event during IMN at Alto Bar at Caesar’s Palace on Tuesday, September 12, 2023, from 4 to 6 p.m. Space is limited. Those interested in attending this invitation-only event should contact Caroline Weyer at 770-289-3229 or email@example.com.
Chase Mallein, Investment Sales at BRD, states, “We look forward to reconnecting with everyone in the BTR industry in Vegas next week. Please contact me at firstname.lastname@example.org to schedule a face-to-face meeting.”
The IMN 10th Annual Build-to-Rent, Land & Homebuilding Forum is an industry-leading event focused on private equity, debt and joint venture financing in the land and home building markets. Over 1,000 BTR, land and homebuilding professionals will be in attendance.
About Blue River Development, LLC
Blue River Development, LLC is a nationally recognized, industry-leading land sales and development team specializing in the Southeast. Its team has over 22 years of experience and has been involved in the origination, acquisition, development and disposition of nearly $3 billion in projects. Such projects are comprised of thousands of residential lots, multifamily units and retail developments. The firm’s success is driven by its ability to catalog, organize and analyze the most up-to-date market data, its integrity and accountability to clients and investors.
Discover how the BRD Investment Sales Division continues to navigate market challenges to secure transactions, including BTR Closings. For more information, visit www.BlueRiverDevelopment.com.
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