Trilogy Investment Acquires 109-Unit Build-to-Rent Development in Lakeland, Tennessee

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Trilogy Investment Co. has closed on the purchase of Willows Townhomes, a 109-unit build-to-rent (BTR) residential community planned at 9942 Geneva St. in Lakeland, Tennessee. The Alpharetta, Ga.-based investment firm has rebranded the property as REV3 at Garner Lake and plans to break ground this month, with the first homes expected to be delivered by the end of the year.

Why it matters

The acquisition of Willows Townhomes by Trilogy Investment represents the growing trend of build-to-rent developments, which offer an alternative to traditional homeownership and cater to a market seeking more flexibility and amenities. The project is part of the larger redevelopment of the former Belz Factory Outlet Mall in the Lake District of metro Memphis.

The details

Trilogy plans to break ground on REV3 at Garner Lake this month and deliver the first tranche of homes by the end of the year. All units will feature attached garages and come in three- and four-bedroom configurations ranging in size from 1,657 to 1,866 square feet. Builders Capital is serving as Trilogy's joint venture partner and equity capital provider for the project.

• Trilogy Investment Co. has closed on the purchase of Willows Townhomes.
• Trilogy plans to break ground on REV3 at Garner Lake this month.
• The first tranche of homes at REV3 at Garner Lake are expected to be delivered by the end of the year.

What’s next

Trilogy Investment plans to break ground on the REV3 at Garner Lake development this month and deliver the first homes by the end of the year.