IPA Capital Markets successfully arranged $52.3 million in financing for the development of two build-to-rent (BTR) communities. The first property, known as the Villas at Bardin, is located at 4115 S Great Southwest Pky in Grand Prairie.
Leading IPA’s Dallas office was Adam Mengacci from their Capital Markets team who worked on behalf of Republic Property Group to secure and structure two bank loans and an additional $10.4 million in preferred equity.
According to Tony Ruggeri from Republic Property Group, the BTR asset class has been experiencing rapid growth within the U.S housing market, surpassing both single-family homes and multifamily housing sectors.
The second property is Ridgeline Vista Townhomes situated in Denver MSA with similar amenities such as a two-car garage and fully maintained front yards offered by both properties.
