Tony Chen has joined Crescent Communities to lead the firm's single-family build-to-rent business.

Crescent Communities is expanding into the single-family build-to-rent business. The Charlotte, North Carolina-based real estate developer and operator plans to further elevate its national presence in the residential rental arena with the unveiling of its new product segment brand this summer.

According to chairman and CEO Todd Mansfield, Crescent Communities has a competitive advantage in the build-to-rent space with the affiliate relationship it has with home builders in the Sumitomo Forestry portfolio, which operate across the U.S. These relationships will enable the firm to scale business growth rapidly, he said.

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