Center Creek is excited to announce the acquisition of a complete 118-unit Build-to-Rent (BTR) single-family community, less than 20 minutes from the Gulf coast in Baldwin County, Alabama. Kipling Meadows is 100% built, 80% leased and cash flowing from Day 1, and will enable us to provide quality rental living to workforce families in a dynamic and fast-growing market. Residents will enjoy a pet-friendly community with access to a community swimming pool and onsite lake. Kipling Meadows homes are built with upgraded kitchens furnished with stainless steel appliances, granite countertops, and white shaker-style cabinetry, as well as high ceilings, private, fenced-in backyards with patios, vinyl plank flooring, and attached 2-car garages. Center Creek will also be layering on our suite of resident-services, including credit counseling and financial literacy training – all in addition to new homes, private yards, and a community pool, at competitive rents.
A big thanks to our team for all the hard work getting this one done!
Center Creek is working with several regional and national builders on getting involved with them earlier in their process to design smaller houses, higher density/more efficient land use to naturally bring down costs and associated rents. It’s a great way to expand the supply of affordable/workforce housing in a market-driven, scalable manner that provides quality living opportunities for residents and strong risk-adjusted returns for investors.
Center Creek is already working on our next BTR deals! We have two in Florida (Jax and Orlando), one in Nashville, and one in Raleigh in our pipeline at different stages. We’ll share updates on those as they move along