Peakline Real Estate Funds (PREF) has finalized its initial investment within its Peakline Real Estate BTR Fund I. This investment centers on a 23-acre property in Charlotte‘s Steele Creek neighborhood, where a new build-to-rent townhome community, EDEN Steele Creek, will be constructed.
The project is a joint venture with Sterling Equities and EDEN Multifamily. The development will feature 187 luxury townhomes, offering a mix of two- and three-bedroom units. Each home will include an attached garage and private yard, along with high-end finishes. Community amenities will include a sizable clubhouse with a pool, co-working space, and fitness center, in addition to dog parks, a pet spa, and walking trails.
Michael Miller, CEO of PREF, expressed enthusiasm for this milestone, highlighting the firm’s dedication to creating high-quality rental housing in response to market demands. He emphasized the fund’s strategy of focusing on townhomes and detached single-family homes, segments experiencing significant demand.
Jason Ross, Managing Director and Fund Manager at PREF, stated that the EDEN Steele Creek development exemplifies the firm’s disciplined investment approach within the build-to-rent sector. He underlined the project’s strategic location and thoughtful design, aligning with current demographic trends.
The Steele Creek area was selected for its blend of urban and suburban features, offering convenient access to parks, green spaces, shopping, and dining. This makes it an attractive location for residents seeking a balance of convenience and lifestyle amenities.
Construction on EDEN Steele Creek is slated to commence in the fall of 2025, with completion anticipated by mid-2027.
PREF is a private real estate investment firm with a diverse portfolio encompassing rental housing, industrial, office, and retail properties. The firm currently manages over $1.7 billion in equity across multiple funds and individual investments, representing a total gross value exceeding $5 billion.
Sterling Equities is an investment firm with interests in real estate, media, and sports. EDEN Multifamily is a joint venture with a strong track record in residential development, specializing in projects in underserved neighborhoods. The partnership leverages the combined expertise of these three entities.
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