101142 . 92 Home BFR Houston, TX, Houston, TX 77057
92 well-located Build-for-Rent townhomes located within 5 communities
All five communities are gated communities, and the homes have two-car garages
Exceptional opportunity in high rent growth sub-market
Immediate deployment opportunity on 32 of the 92 homes with a forward commitment on the remaining homes
15 homes are currently leased with average rents of $3,331 per month
17 homes are currently in lease-up with projected year 1 rents at $3,367 per month
The remaining homes will be delivered in monthly tranches at C.O. with January 2023 final completion
Houston is ranked 40 of the top 99 rent growth markets in the country
Seller is a highly experienced developer/builder with 25 years of experience headquartered in Houston, TX
All SVN® Offices Independently Owned & Operated
Local Broker License Information: www.SFRhub.com/realstatelicensing
Property Description
Visit www.SFRhub.com and search for portfolio 101142 for more information.
Contact:
TOM JOHNSTON
Director of Brokerage Services
SVN | SFRhub Advisors
T: 602.825.1780
C: 602.403.3695
tom.johnston@svn.com
License #: BR507919000
BOR:
Jeff Beard
SVN | J. Beard Real Estate Company
Managing Director
SVN | SFRhub Advisors is pleased to present this Class A, 92 Home, Scattered BFR Portfolio located in five communities in the heart of Houston, TX. The portfolio currently has 15 leases in place, 117 rent ready homes in lease-up, and the remaining homes to be delivered in monthly tranches at Certificate of Occupancy (C.O.). The anticipated completion of all homes are scheduled to be completed by January 2023. An investor has an opportunity to quickly acquire 25 completed homes and forward commit to purchasing the remaining homes at C.O. This is a significant opportunity to purchase an institutional quality new construction home portfolio with differentiated products in one of the country’s largest and fastest-growing cities. This scattered BFR portfolio are all within a 3.5- mile radius with strong market fundamentals. The investor for this portfolio will be the HOA declarant for all communities, as the new owner will have majority voting shares in each community, and the remainder of each community is owned by individual owner-occupants. The location provides excellent access to Houston’s major employment centers, quality schools, shopping, dining, and entertainment destinations near Houston’s downtown and premier single-family neighborhoods. With an already low supply of homes in the Houston market, the country’s 3rd fastest growing metro area, the current slowdown in the home building sector, and the increase in mortgage and rates should further drive rental demand for these Class A investment homes. Metro Houston has seen tremendous gains with a 16.9% YoY home price appreciation, 6.1% YoY employment growth, 3.8% median household income growth, and projected rent growth of 11.25% between July 2022 and 2025, according to John Burns Real Estate Consulting (JBREC). Population growth for the metro area is projected to be 5.25% between now and 2025, with an anticipated 8.3 million people living in metro Houston according to JBREC. The Seller of this package is a leading, fully integrated, multi-family and residential real estate investment, construction, and property management firm headquartered in Houston with more than 25 years of experience. Its principals have developed and invested in over 100 projects for aggregate values of multiple billions of dollars. Their team consists of highly skilled professionals providing extensive experience in residential, build-for-rent, and multi-family construction and development.