June 18, 2021

RangeWater Hires Chase Davidson to Lead $800M to Build-to-Rent, Single-Family Rental Division

Multifamily Real Estate Firm Building Team to Grow Innovative SFR Platform

ATLANTA (May 2021) – RangeWater Real Estate has hired Chase Davidson to lead the company’s $800 million investment in Single-Family Rental (SFR). RangeWater, the fully integrated multifamily real estate company, develops, acquires, manages and invests across the Sun Belt, is creating one of the largest SFR platforms in the country.

RangeWater announced last year it plans to deploy $800 million over the next 18 months to build 15 Storia℠ “build to rent” communities. Davidson will work across all company divisions from within the Capital Markets group to execute this business strategy. The first project, called Beacon Lake Lanier, a Storia Neighborhood by RangeWater, is set to deliver this year, with 197 detached homes in Flowery Branch, Ga.

“The single-family rental market offers a generational investment opportunity,” Davidson said. “The launch of Storia and RangeWater’s SFR platform is great timing as we have people of all ages looking to rent beautiful rental homes with communal and outdoor amenities. We’re poised to grow in Sun Belt cities where, coming out of the pandemic, there’s a flurry of hiring and a heightened demand for quality rental homes.”

Davidson will coordinate the growth of the SFR pipeline with the RangeWater development and acquisitions teams, manage the debt and equity capitalization efforts with the capital markets group, and monitor performance with the property and asset management teams. In addition, he will lead RangeWater’s research and business analytics to drive SFR communications and strategic decision-making.

“Chase is a great addition to the RangeWater team and arrives at an opportune moment for both the company and the SFR market,” said Steven Shores, CEO and President at RangeWater. “His education and experience make him a great fit for this strategic, cross-functional management role.”

RangeWater’s SFR platform is serving a growing need for rental housing across generations. Millennials, now ages 25-40, are graduating from apartments and starting families or their own, seeking more privacy, square footage and their own backyards. Yet, they tend to struggle to find rental homes with the same level of service and engagement they’ve come to expect in highly-amenitized apartments, like the 27,000 apartment units RangeWater has developed and managed over the past 15 years.

Single family rentals also suit the needs of empty nesters, single parents and blended families. Single parents are attracted by great school districts and an active neighborhood with planned events, communal spaces and convenient, hassle-free home care. Blended families and newly combined households like the fresh start without the financial commitment of a down payment. Empty nesters want the flexible, low-maintenance lifestyle and to stay close to grandkids. In fact, renter households aged 60 and up grew 43 percent in the past 10 years and will continue growing by 38 percent through 2025, according to data from RentCafe.com and census estimates.

“Since the Covid-19 pandemic, one thing people of all ages are seeking is greenspace. We design all of our SFR properties to have pocket parks, playgrounds or dog walks,” added Davidson.

Prior to joining RangeWater, Davidson was with The Related Companies, where he was responsible for the acquisition and asset management of $1.1 billion in transactions and the due diligence and underwriting efforts on more than $20 billion in investment opportunities in residential, office and hotel properties. Previously, he had roles in acquisitions, asset management and investment sales brokerage with ASB Real Estate and Eastdil Secured.

The Atlanta native said joining RangeWater is a welcome opportunity to return to the South, after spending his career in D.C., Philadelphia and New York. Davidson holds a Master’s degree in Business Administration from the Wharton School of the University of Pennsylvania with a concentration in real estate and finance, and a Bachelor of Arts degree in Economics from the University of Virginia. He’s a member of the Urban Land Institute (ULI) and the National Multi-Housing Council (NMHC).

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About RangeWater Real Estate

RangeWater is a fully integrated multifamily real estate company creating fulfilling experiences for its partners, clients, residents and employees across the Sun Belt. The Atlanta-based company has acquired and developed nearly 29,000 multifamily units since its inception in 2006 representing in excess of $5 billion in total capitalization. RangeWater currently manages a balanced portfolio of over 56,000 multifamily units across 10 states. With offices in Atlanta, Dallas, Denver and Tampa, RangeWater targets high job growth markets with demand for new housing. For more information, visit LiveRangeWater.com.

Media Contact: Rachel Tobin, TobinInk., 404-276-5930, rachel@tobinink.com