Build-to-Rent Projects Continue to Stay Hot

Despite clear and persistent troubles plaguing other sectors in the commercial real estate market, build-to-rent (BTR) projects continue to flourish. According to RentCafe, an apartment listing service that is part of Yardi Systems, 14,541 new BTR homes were brought to market in the United States last year - the highest annual total ever. Construction data for 2023 suggests those numbers are only going to increase. MMM's real estate team has seen the growth in the BTR space firsthand, having assisted a number of investment managers in standard acquisitions and with rental demand's steady ascent, have increasingly been tasked with facilitating the development of BTR communities from the ground up. With new BTR communities popping up all over the country, more consumers are being exposed to the attractive alternative to home ownership that BTR presents. Based on existing numbers and current projections, that exposure is clearly paying dividends for BTR investors and developers.