RangeWater Real Estate continued to expand its build-to-rent (BTR) portfolio last week after closing on 17 acres in Charleston, S.C., its first step into that market as part of its Storia brand.
The Atlanta-based operator said it will break ground in August and first move-ins are expected in October 2023. Today, BTR is more than 15 percent of RangeWater's overall portfolio.
Its Storia brand launched almost two years ago when the company announced it would deploy $800 million dollars over the next 18 months with plans to build approximately 15 Storia communities in Sun Belt metros where RangeWater operates.
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