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Alpaca Tapping $300M Fund for DFW BTR Community
Investment management firm Alpaca Real Estate (“ARE”) has formed a $300 million residential strategy to assemble a portfolio of 1,000+ new-construction rental homes in locations marked by strong population growth, robust household income, best-in-class school districts and access to both employment and recreation.
The inaugural transaction will fund a 150-townhome community along with Southern Impression Homes and LyvWell Communities. The Property is located in Dallas near major transportation nodes. The joint venture between ARE and LyvWell acquired the entitled parcel and simultaneously entered into a forward purchase agreement with Southern Impression, who will execute the vertical developments at an agreed-upon fixed cost.
The Property is expected to consist of 150 two- to four-bedroom townhomes ranging between 1,400 to 1,900 square feet in size. The partnership intends to bring in a rent-to-own operator to manage a portion of the homes.
- ◦Development
