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Atlanta & Southeast  + Carolinas  + Finance  | 
Tower Capital has arranged $37.5 million in financing for Poplin Glen build-to-rent development in Indian Trail, NC.

Tower Capital Arranges $39M for Build-to-Rent Development in Indian Trail

Tower Capital has arranged $37.5 million in financing for the development of Poplin Glen, a 169-unit build-to-rent project in the Charlotte submarket of Indian Trail, NC.

The project will feature two-story, three-bedroom townhomes with an average size of 1,900 square feet and direct access to two-car garages. The property is expected to cater to families due to high-scoring schools nearby.

“Consumers continue to be attracted to top quality build-to-rent housing projects and that continues to drive demand for new developments,” said Kyle McDonough, Tower Capital principal and co-founder. “We just arranged our second financing in NC, and our BTR originations completed in the Sunbelt now totals 30 projects since 2018.”

“Rising mortgage rates are causing potential buyers to take a look at single-family rentals, which can offer more affordable economics compared to buying a house, while delivering the lifestyle and flexibility they seek,” adds McDonough. “For those reasons, it is expected that demand will continue to increase for BTRs.”

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Inside The Story

Tower Capital's McDonough

About Lisa McDuffie

Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group. When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.

  • ◦Development
  • ◦Financing
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