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.”
To read the latest edition of the latest IPE Real Assets magazine click here.