Cavan Companies Closes Major Funding for Rental Projects
Cavan Companies Secures $87.5 Million for New Developments
Cavan Companies, a prominent firm in the Build-To-Rent real estate scene, has successfully completed the financing process of two construction loans amounting to $87.5 million. This funding, received from ORIX Corporation’s Real Estate Capital Group, will facilitate the creation of two upscale Build-to-Rent (BTR) communities. These developments are set to significantly contribute to the burgeoning real estate landscape as the demand for quality rental properties continues to rise.
Innovative Housing Solutions Tailored for Modern Living
The upcoming housing communities will be designed to cater to various demographics seeking innovative living solutions. Each community will feature thoughtfully designed, single-story apartment homes that integrate modern amenities, tailored to cater to millennials, families, and empty nesters. The rising trends suggest that more individuals are opting for rental living that allows flexibility and modern-day convenience.
What Residents Can Expect
The planned communities will include a range of enticing features to enhance the living experience, such as:
- Spacious, private backyards for exclusive outdoor enjoyment.
- Pet-friendly areas, including dedicated dog parks to accommodate furry companions.
- Resort-style pools and fitness centers, promoting an active lifestyle.
- Exemplary property management services, ensuring a high standard of living.
The Cavan Companies' initiative makes it distinctly clear that modern rental properties can offer both luxury and practicality without the burdens often associated with homeownership.
Market Dynamics and Future Growth
Dave Cavan, the Chairman of Cavan Companies, shared insights regarding the challenges and opportunities within the current lending market. He noted, "In a tight lending market, experience and a proven track record are invaluable assets. Lenders nowadays are more cautious, and our successful history in real estate builds their trust and confidence. Our ability to demonstrate solid performance over time and deep industry expertise has facilitated our financing success, even amidst challenging circumstances. It’s our track record that reassures lenders that we will deliver on our promises."
Adapting to Changing Trends in Real Estate
In light of evolving market trends, the demand for rental homes is on the upswing across the United States. Cavan Companies’ CEO, Gary Burton, emphasized this trend by stating, "The demand for rental homes continues to increase, particularly in key areas like this one. Our Build-to-Rent model is well-aligned with this shift as residents increasingly seek lifestyle-centric housing options free from the long-term commitments of traditional homeownership."
About Cavan Companies
Cavan Companies has been a leader in the Arizona commercial real estate sector for over 50 years. The firm specializes in the development of retail, commercial, and residential properties, including multiple master-planned communities. Since 2016, the focus has shifted towards the development of Build-To-Rent communities, namely The Bungalows. Cavan Companies prides itself on creating vibrant, low-maintenance luxury environments, continually raising the standard for rental living.
Contact Information
For more information about Cavan Companies and its developments, interested parties can reach out to:
Sheri Jones
Business Development Director
Phone: 480-747-9417
Email: [email protected]
Website: www.cavancompanies.com
Frequently Asked Questions
1. What communities are being developed by Cavan Companies?
Cavan Companies is developing two luxury Build-to-Rent communities known as The Bungalows on Honeysuckle and The Bungalows at Whitehawk Lake.
2. How much financing did Cavan Companies secure?
Cavan Companies secured $87.5 million in construction loans for its housing developments.
3. What kind of amenities will the new communities have?
Residents can expect amenities such as private backyards, resort-style pools, fitness centers, pet-friendly areas, and professional property management services.
4. What is the focus of Cavan Companies?
Cavan Companies focuses on creating vibrant, low-maintenance luxury communities designed to meet the needs of modern renters.
5. Why are Build-to-Rent developments gaining popularity?
Build-to-Rent developments are increasingly popular due to shifting market preferences, with many residents seeking luxury living without the long-term commitment of traditional homeownership.
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