Stanton Road Capital (SRC) in partnership with Material Capital Partners has closed on the land acquisition for Sweetwater, an 89-unit single-family build-for-rent community located in North Augusta, S.C.
Sweetwater is the first development of a programmatic co-GP relationship between SRC and Material Capital Partners. The partnership has sourced an additional four active build-for-rent community developments throughout the Southeast.
“Build-for-rent is an asset class that SRC will continue to make strong inroads in nationally, and we are excited to partner with Material Capital Partners to develop Sweetwater and future communities in the Southeast,” said Tim Ronan Jr., founder and managing partner of SRC.
“MCP is committed to providing high-quality housing across the Southeast and Florida to residents who are seeking a single-family home and prefer the convenience and flexibility of a rental lifestyle with premium amenities within a dedicated rental community. We are excited to partner with SRC to execute our build-for-rent strategy, which is on track to deliver over 900 new rental homes across five communities constructed and available for rent by the end of 2024, with our pipeline of over 2,300 units expected to be delivered by the end of 2026,” said Alex Chalmers, founder and managing partner of Material Capital Partners