STRATA SFR Announces $24.856 million transaction

Two, Build-for-Rent Communities in the Greater Atlanta Metro

“Strata was instrumental in bringing this opportunity to our attention and the team at Crawford Creek exceeded our expectations on every level,” said Dennis Cisterna, Lafayette Communities co-founder”

— Dennis Cisterna

MOORESVILLE, NC, UNITED STATES, September 29, 2021 / — Strata SFR (“Strata”) announced the sale of two purpose built single-family rental communities, Osborne Farms and Creekview, in the greater Atlanta market.

Strata is a Charlotte-based real estate brokerage focused on Single-Family Residential (SFR) portfolios and Build-for-Rent (BFR) communities. Strata was launched in January 2020 by industry veteran Adam Stern to service the increasing interest of institutional investors and regional home builders looking to capitalize on the BFR trend. “We believe that BFR communities provide a great opportunity to would-be-renters who desire a quality rental in a traditional single-family community setting,” said Stern.

Osborne Farms, a 63-unit townhome community in Ackworth, GA. was sold for $11.83M. The community features a mix of 3- and 4- bedroom floorplans ranging from 1500 to 1800 square feet. Creekview, a 59-unit townhome community in Dallas, GA. was sold for $13.025M. The community also features a mix of 3- and 4-bedroom floorplans ranging from 1500 to 1800 square feet. Osborne Farms has already begun leasing with Creekview expected to start leasing in the next couple of months.

Both communities were developed and built by Grovetown, GA-based, Crawford Creek Communities. Dean Conn, founder of Crawford Creek, noted “From a builder standpoint we like that this platform of purpose-built rentals blends well with and compliments our typical retail-sale business. We plan to expand our activity in this niche of new construction of single-family detached and townhomes units developed specifically to be purchased and held as rentals.”

The buyer, Lafayette Communities, is one of the 15 largest owners of single-family rental homes in the nation and has been on the forefront of the build-to-rent trend with active communities in several states. “We are very excited to expand our operational footprint with our first two communities in the Atlanta metro area. Strata was instrumental in bringing this opportunity to our attention and the team at Crawford Creek exceeded our expectations on every level. We anticipate a long relationship with both firms going forward,” said Dennis Cisterna, Lafayette Communities co-founder.

Both communities will be delivered in stages as units are built over the coming several months. Projects like these are being built and sold at a high frequency by regional builders like Crawford Creek to institutional investors as investors’ appetite for newly built homes has increased in major markets throughout the Southeast including Atlanta and surrounding bedroom communities. “We are fortunate to have found these two fantastic projects and to have placed them with Lafayette, one of the most experienced and reliable SFR investors/operators in the country. Placing them with an equally experienced builder was a home run,” said Stern.

About Strata SFR
Strata SFR is a purpose-built company focused on the Single-Family-Rental Sector. Strata brings together Build-For-Rent projects and leads the disposition of SFR Portfolios with a primary focus on the Southeast United States. Based in Mooresville, N.C., in Metro Charlotte, the company was founded in January 2020. To date, it has presided over approximately half a billion in single-family rental home acquisitions and dispositions between SFR owners, builders, developers and institutional investors.

Adam Stern
Strata SFR
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