Lafayette Real Estate acquired land with plans to develop a build-to-rent (BTR) community called Lorraine Crossings in the Sarasota, Florida, suburb of Lakewood Ranch (photo). This transaction represents the firm’s latest BTR community and expands Lafayette’s development pipeline, which comprises over 2,000 BTR homes and lots under development and represents more than $700 million in allocated capital. 

Lafayette’s Thibault Adrien added, “Developing the community in-house via our development arm, Marquis Homes, will allow us to build at an attractive basis, supporting our efforts to maintain attainable pricing for renters.” Twenty-five percent of the homes in Lorraine Crossings will be dedicated to workforce households.

The land at Lorraine Crossings is fully entitled and shovel-ready. Lafayette oversaw the seller’s entitlement execution. Marquis Homes, Lafayette’s vertically integrated homebuilding affiliate, will oversee the site’s horizontal development and facilitate the construction of the homes. Development is expected to begin this month, with first deliveries slated to occur in the second quarter of 2026.