Glen Allen, Virginia-based Capital Square has formed a joint venture partnership with Japan’s Itochu Corp. to acquire Creekside Terrace, a 100-unit build-for-rent (BFR) single-family community near San Antonio, Texas, that is currently being developed by Pulte Homes (NYSE:PHM).
Creekside Terrace is part of a master-planned development of new three- and four-bedroom homes featuring a pool, pavilion and park with convenient access to nearby shopping and dining.
“Capital Square continues to invest in the acquisition and development of build-for-rent communities throughout Texas and the Sunbelt,” said Dave Platter, managing director and co‑head of private equity at Capital Square. “As a firm, we continue to source opportunities in the I-35 corridor between Austin and San Antonio. We believe Creekside Terrace will present a welcoming community for young families looking for the benefits of single-family living without the high costs and headaches associated with homeownership today.”