Mill Creek Residential and PCCP’s newly created US residential investment venture plans to develop its first single-family rental community project.

In February, US rental housing investor Mill Creek created a separately managed account with commercial real estate investment manager PCCP.

Mill Creek said the separately managed account recently acquired a 25-acre site along Freedom Road in Kissimmee, Florida and it will soon commence the ground-up development of Amavi Kissimmee, a 187-home, Class-A townhome community.

David Reynolds, president of investment management at Mill Creek, said: “We are excited to begin building our inaugural single-family, build-to-rent investment with PCCP.

“Amavi Kissimmee represents the first of many high-quality single-family rental communities we plan to deliver across our target markets through this joint venture.”

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