Tricon Expands Active Build-to-Rent Pipeline with 3,000 Units

Tricon Residential Inc. recently provided an update on its active build-to-rent community pipeline, which has now expanded to more than 3,000 rental units in 23 new home communities across the U.S. Sunbelt. The 23 communities are located across 10 MSAs including Texas (Dallas-Fort Worth, Houston, Austin and San Antonio), California (Sacramento and Inland Empire), Phoenix, Jacksonville, FL and Reno.

The communities are under development or under contract to be developed within Tricon’s existing single-family rental investment vehicles THPAS-JV1 and Homebuilder Direct JV, and are being built by a number of national and regional homebuilders. The planned communities are targeting the middle market resident demographic and located in high-growth Sunbelt states.

“COVID-19 has cast light on the shortage of affordable housing options across the U.S.,” said Gary Berman, president and CEO of Tricon Residential. “At Tricon, we are committed to expanding the supply of accessible high-quality housing for families who are seeking a single-family home and prefer the convenience and flexibility of a rental lifestyle.”