Homes average 1,773 square feet, built in 2018, 93.7% occupied.
HOUSTON — JLL Capital Markets arranged the sale of a 375-home single-family rental portfolio across Texas, Georgia and North Carolina, including a significant portion in Houston.
The portfolio, sold by Bridge Tower Partners to an undisclosed institutional investor, spans eight markets, with the largest concentrations across Houston, Dallas, Fort Worth and San Antonio, according to a Sept. 3 news release from JLL (NYSE: JLL). The sale price and list of properties were not disclosed.
The homes, averaging 1,773 square feet with 3.5 bedrooms and 2.3 bathrooms, were built in 2018 and are 93.7% occupied.
Houston has been on the forefront of the build-to-rent trend in the past few years. The region ranked third behind Phoenix and Dallas in new build-to-rent construction in 2022 and 2023, according to RentCafe.
Last year, developers completed an all-time high of 4,236 build-to-rent homes in Greater Houston, which accounted for 14% of all rental completions, according to Zonda.
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