Peakline Real Estate Funds has entered the build-to-rent market for the first time with the launch of its Real Estate BTR Fund I. This new fund will address the growing demand in high-demand, low-supply rental markets, focusing on areas where rental housing is scarce yet highly sought after.
It will target regions across the Southeast, Mountain West, and Midwest. Peakline said in a statement that it will emphasize "upscale" suburban areas "with strong public school systems, employment hubs, retail and entertainment access, and high tenant demand."
The fund will team up with sponsors familiar with the local regions to create single-family rental communities. Already, Peakline has singled out more than 1,600 units across multiple projects for possible investment. It's unclear how much money the fund plans to raise or invest. Jason Ross, managing director at Peakline, is leading the efforts on the investment pool.
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"We're excited to partner with leading developers in our strategic markets to create rental neighborhoods that meet the growing demand for community living and modern amenities," he said.
"Our team is focused on delivering innovative solutions that exceed the expectations of the evolving renter, providing homes that meet diverse tenant expectations, and have a strong potential for value appreciation and income generation."
The Chicago-based firm has invested $1.7 billion in more than 15 growth markets in the country through six funds. Formerly known as Cresset Partners, the company has experience exploring opportunities in a range of asset classes, including industrial, office, retail, and—most importantly—rental housing properties.
"Coming off the heels of our firm's renaming, this is an exciting moment to expand PREF's fund offerings," Michael Miller, co-founder, president, and CEO of Peakline, said.
"The real estate market is evolving, and we remain committed to disciplined, strategic investing that delivers smart solutions for our investors."
The vote of confidence in BTRs comes as home ownership continues to be out of reach for many Americans. That has some turning to other alternatives, with BTRs offering a unique home-like feel for renters who can't afford homes. In 2024, multifamily completions surged to their highest figure since 1974 at 588,000, according to a report from Colliers. This trend could bode well for BTRs and single family homes, the CRE firm said.
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