BTR Equity/Debt
Anyone have any groups they can recommend that have dedicated BTR equity or debt arms? Also open to hearing about any capital markets teams that focus in the space.
Was going to go down the PERE list in addition to our current list, but thought I could also get some good swags from here. Thanks in advance.
Based on the most helpful WSO content, here are some groups from the PERE 100 lists that could be worth exploring for Build-to-Rent (BTR) equity or debt opportunities. While the lists don't explicitly mention BTR, many of these firms have diverse real estate strategies, including residential-focused investments:
Equity-Focused Groups:
Debt-Focused or Capital Markets Teams:
Additional Suggestions:
If you're looking for capital markets teams, firms like Morgan Stanley Real Estate Investing and Invesco Real Estate might also be worth exploring.
For a more targeted approach, you could cross-reference these firms with their specific BTR activities or reach out to their teams directly. Good luck!
Sources: PERE 100 2020, PERE 100 2021, PERE 100 2020, https://www.wallstreetoasis.com/forum/real-estate/pere-50-2016-real-estate-private-equity-rankings?customgpt=1, Best Debt, Equity, & Structured Finance Groups in NYC
Very few, if any, of the institutional investors have a dedicated BTR team. It’s usually just the MF team that also does BTR. Every large brokerage firm has a BTR team though. I’d start by finding the ones at W&D, JLL, and maybe Northmarq, and then go from there.
Thanks! That's what I thought. We've talked to those brokerages, at least the local teams; I'm sure they can connect us with a more specialized team if we need placement. We've heard whispers of some bigger equity groups coming back to the table.
This is true. Have heard of BTR sponsors seeing multiple LP term sheets for solid deals from big names like MetLife, PCCP, Carlyle, and many others. This is direct from a friend of mine on the BTR team at Northmarq.
I"m a lawyer who works a lot in this space. PM me if you'd like to discuss more.
East Coast, Midwest, Sun Belt, or West Coast?
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