Spring, Texas Site for New Single-Family Rental Community

Landmark Properties and Principal Real Estate Investors are set to begin work this month on The Everstead at Windrose, a 194-unit Built-to-Rent (BTR) community in Spring, Texas. The joint venture landed a $37.8 million construction loan—set to mature in 2026—from Regions Bank. TSB Capital Advisors secured financing for the development.

Slated for completion in 2024, the built-to-rent community will encompass townhomes, single-family homes and cottage-style units that will have backyards and private patios. Common-area amenities will include a swimming pool, coffee bar, fitness center, grilling area, playground and dog park.

Landmark Construction is the general contractor for the development. Landmark’s Wes Rogers said, “With nearly 30 BTR projects in the pipeline, our fully-integrated platform is well-positioned to quickly expand our single-family rental portfolio despite the distress in capital markets.” It’s their second offering in Spring.