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Build-for-Rent Boom: Navigating The Rise of Purpose-Built Single-Family Rentals
Manage episode 417315002 series 3555935
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With the U.S. in the grips of a significant housing shortage and a societal shift toward rental living, build-for-rent [BFR], also known as build-to-rent [BTR], is the fastest-growing sector in commercial real estate. In this week's podcast episode, David Bourne, Director of Investments at PEG Companies, sheds light on this emerging asset class and how it's set to redefine the residential landscape. Pointing out intriguing economic underpinnings of the BFR segment, Bourne discusses how performance metrics of single-family rental markets align with traditional multifamily properties, with rental appreciation rates and operating costs debunking initial assumptions. Moreover, financing in the BFR sphere has witnessed a paradigm shift, with major banks and investors growing as comfortable with BFR as they are with conventional multifamily lending. The conversation evolves to point out some of the leading brands in the BFR space including Christopher Todd Communities and Alante Homes. From the completes of financing these properties to how to manage them, this week's episode stands as a testament to the CRE industry's ability to adapt and meet the demands of the modern 'renter by choice.'
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