Key takeaways from the Southeast Build-To-Rent Summit

[Devin James]

Key takeaways from the Southeast Build-To-Rent Summit today held by Bisnow

1) Peter Michaels - BTR Rental Premiums Compared to Garden-Style Multifamily:
- Townhome BTR: 10% rental premium
- Single-Family Attached: 15% rental premium
- Single-Family Detached: 30% rental premium

2) Kimberly Byrum - Average age for first time homebuyers today is 35. Make sure to design your units with this demographic in mind. Key differentiators include storage space (attic or large closets), EV charging, and accessible backyards (not just an entry from the bedroom).

3) Liya Mo - BTR REITS are trading at a premium to MultiFamily REITS, largely due to more exit strategies. Fee simple lots provide greater flexibility than multifamily projects under one parcel.

4) Kimberly Byrum - Lease-Up Rates by Asset Type:
Garden Style Multifamily: 18 units per month
BTR Cottage Style: 12 units per month
BTR SFH Detached: 8 units per month

5) John Jones (BBL Building) - Efficient and thoughtful design remains the best way to reduce costs.

6) Tony Benge Margins are comparable between garden style multi-family & BTR, but BTR is in much higher demand.

It was a great turnout, excited to see the BTR sector’s growth between now and next year’s event!

BTR = Build-to-Rent
REIT = Real Estate Investment Trust
SFH = Single Family Home