Back Naples, Fla. – April 11, 2023 – Halstatt Real Estate Partners, a real estate private equity firm, today announces a thought leadership series on build-for-rent (BFR) housing. The three-part series focuses on what this product type is, who is renting it, and why it is being developed.
“Build-for-rent is one of the big winners in a post-Covid environment. We saw shifts in consumer demands for more space at the same time as many employers allowed their workforce to work remotely, opening up new markets across the country,” says Steve Iannaccone, principal, Halstatt Real Estate Partners. “BFR continues to receive attention because of its status as a differentiated rental alternative. It gives renters all the amenities they are accustomed to in a traditional apartment community, but with the addition of extra space, privacy and outdoor areas. My co-author, Erin Elferdink, and I drafted this thought leadership series to further study and understand the tenant base of BFR and to explain the factors driving many developers, including Halstatt, to continue to be attracted to this asset class.”
Evolution of Rental Housing – The Rise of Build-For-Rent
The last decade has seen a huge shift in what is now considered BFR housing. The asset class has morphed away from scattered rental houses into purpose-built communities of horizontal apartments with luxury amenities. The first piece in our series dives into the factors that aided BFR’s rapid rise: https://halstattrealestate.com/evolution-of-rental-housing-the-rise-of-build-for-rent/
Demographic Shifts & Lifestyle Preferences Drive Build-For-Rent Demand
One of the main factors driving build-for-rent demand is the current affordability and supply challenges that are keeping many would-be homebuyers out of the for-sale market. The result is increased demand for rental housing that meets the needs of both maturing renter households ready to move up from traditional apartments, but not ready or able to buy, and already mature households that are seeking the convenience and affordability of renting. Our second piece explains the tenant base for BFR and why they are being attracted to this product type: https://halstattrealestate.com/demographic-shifts-lifestyle-preferences-drive-build-for-rent-demand/
The Growth of Build-For-Rent: What’s Behind the Surge in Developer Investment
Despite rising interest rates and a volatile economy, the build-for-rent sector continues to attract attention. A desire to gain exposure to one of the few new product types in the real estate industry, paired with the sector’s strong performance, elevated renter demand, and ability to adjust lease rates annually, has kept developers, operators, and lenders greatly interested in the build-for-rent space. Our third and final piece gives insight on why developers continue to invest in BFR: https://halstattrealestate.com/the-growth-of-build-for-rent-whats-behind-the-surge-in-developer-investment/
To date Halstatt has committed to six build-for-rent development projects, with three projects in Fort Myers, Fla., as well as singular projects in North Port, Fla., Austin, Texas, and Columbus, Ohio, equating to over 1,150 units. To view our BFR projects, visit the portfolio page of our website: https://halstattrealestate.com/portfolio/
Halstatt Real Estate Partners identifies value add and opportunistic real estate projects throughout Florida, the Southeast, and Texas. The company partners with project sponsors to develop and implement a strategic business and capital improvement plan to maximize demand driven development and investment opportunities.
