Global real estate investment and land asset management company Walton Global Holdings has launched a build-to-rent (BTR) line that will leverage its more than 81,000 acres of U.S. land assets to create near-term opportunities for single-family home rental developments.
With $3.4 billion of current real estate assets in North America, the launch of Walton’s BTR line provides the company with a competitive advantage during a time when established land parcels are hard to come by for many organizations in this market.
“We see this as a tremendous opportunity to utilize our properties to provide additional single-family home inventory to growth markets throughout the country but, more importantly, affordable housing during a time when for-sale home pricing is rising at a dramatic pace,” says Bill Doherty, CEO of Walton. “We also recognize land is a high commodity for builders and single-family rental companies to enter this space—we are a natural partner for them.”
Walton has already identified 17 near-term opportunities and is in advanced negotiations with a select group of nationally recognized builders and developers to construct BTR communities with approximately 2,500 units across the country.
The first wave of development is part of a longer-term vision for the company to grow its BTR portfolio. Walton plans to construct additional projects within their network of more than 180 master-planned communities and through new land acquisitions.
“Walton has three essential advantages that we expect to deliver true value to this market and to investors: available land, experience in development of lots, and a vast network of home building relationships,” says Paul Megler, executive vice president of Walton, who is leading the BTR initiative for the company. “I see many organizations entering the BTR space that are making value propositions based on a business plan or a concept and are struggling to deploy capital. Walton has a defined portfolio ready to go with partnerships in place and a diverse land pipeline that we continue to grow—that is a big differentiator to our BTR partners.”
