CenterSquare Investment Management has acquired Casey Corner, an 80-unit build-to-rent (BTR) townhome community project in the Midwestern US.
CenterSquare said the property is “well located” in Westfield near downtown Indianapolis with easy access to the I-465 Beltway, and that it is ”ideally situated in a sought-after bedroom community”, closely connected to excellent public schools and key employment hubs.
The acquisition of completed homes will unfold in stages that reflect the project’s progress, with the initial homes acquired in August 2023, and the final deliveries targeted for February 2024.
Casey Corner comprises two-story townhome units, with an average size exceeding 1,750sqft. These units consist of three bedrooms, two-and-a-half bathrooms, and attached two-car garages, the company said.
Chris Picyk, senior vice president of private real estate at CenterSquare, said: ”This investment not only signifies our confidence in the build-to-rent single-family rental sector, but demonstrates our desire to provide attainable housing in growing submarkets of the country.
”Casey Corner will provide the community with a high quality, maintenance-free housing option without the commitment and cost of homeownership.”
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