By Kelsi Maree Borland with GlobeSt.
RangeWater Real Estate is expanding its commitment to built-to-rent single-family market. The developer has announced plans to deploy $800 million in Sunbelt markets to build 15 build-to-rent single-family communities. RangeWater will execute this plan over the next 18 months.
The single-family rental communities will be called Storia, and they will respond to the growing demand for single-family rentals, which has increased significantly during the pandemic. In the first quarter, the Single-Family Rental Market Index was at 63, and by the end of the second quarter, it increased to 76. RangeWater is well known for building class-A multifamily, but decided to follow the demand to this growing market segment.
Read more at GlobeSt here.