Embrey to Bring Third Texas BTR Community to Market

San Antonio rental community developer Embrey, was strictly the standard apartment builder-type. But, now the company is sold on built-to-rent (BTR) properties. Embrey is launching its third BTR community in Boerne, a San Antonio suburb. The company is still working on two other BTR communities, one in Fort Worth and the other in Gruene. The 214-unit Collection at Boerne starts construction in June. It’s expected to take about a year to complete.

The homes will be duplexes that appear to be single family units. They’ll average 1,000 square feet a piece. Rent will be between $1,600 and $2,300 a month.

The San Antonio Business Journal reports that the project is backed by a $168 million private equity fund Embrey issued at the beginning of last year. The company stated it plans to put a total of $500 million worth of investments in single-family rentals by 2024. Today, San Antonio has 15 completed BTR communities with a combined total of 3,107 homes.