Integrity Community Builders and PCCP Collaborate on New Rental Community Development Venture

Integrity Community Builders and PCCP Form Strategic Venture for Sustainable Rental Communities

In a recent announcement, Integrity Community Builders, part of the Weekley Group of Companies, has entered into a significant partnership with PCCP, LLC. This collaboration aims to develop sustainable build-to-rent communities across multiple markets in the United States. The joint effort combines Integrity's expertise in land acquisition and construction with PCCP's knowledgeable investment management approach, reflecting a robust strategy for growth in the evolving rental market.

The agreement is supported by an impressive annual equity commitment of up to $200 million, demonstrating the confidence both companies have in the potential of this venture. Chad Durham, Vice President of Build-to-Rent at Integrity Community Builders, expressed optimism about the partnership, emphasizing their goal to provide high-quality living spaces in thoughtfully designed communities. "We believe this venture allows us to scale our build-to-rent platform with the right asset-managing partner," Durham stated, highlighting the significance of their collaboration with PCCP.

Both firms will co-invest in strategically selected projects within the 19 markets where Integrity Community Builders and its affiliates already have a presence. The planned communities will offer a variety of well-crafted living options, including detached homes, townhomes, and cottage-style rentals, complete with desirable amenities tailored for long-term residents.

Jennifer Diaz, Partner and Head of Multifamily for PCCP, noted that expanding in the build-to-rent sector is a key focus for PCCP. She expressed pride in collaborating with Integrity Community Builders to develop high-quality living spaces in appealing growth markets. The joint venture builds on PCCP's established brand, Skymor Living, which has successfully invested in over 5,000 homes across 34 properties in 17 markets since launching its build-to-rent platform six years ago.

Integrity Community Builders, which embarked on its journey of creating rental communities in 2020, has already made a strong impact, expanding into 12 markets and completing 21 communities with over 2,200 rental homes. Their mission emphasizes the design and construction of sustainable living spaces that provide exemplary service for their clientele.

The partnership represents a forward-thinking approach to housing, addressing the increasing demand for rental properties that align with modern living standards. Both companies leverage their respective strengths to ensure the development of durable rental communities that suit residents' needs.

Founded on the principles of integrity and innovation, Integrity Community Builders is committed to fostering long-standing relationships with landowners and developers. Their extensive experience encompasses every stage of community development, from underwriting and land planning to final construction.

PCCP, known for its expertise in commercial real estate finance and investment management, has maintained a robust portfolio, managing approximately $29.3 billion in assets on behalf of institutional investors. The firm's unique approach combines meticulous underwriting with a deep understanding of market inefficiencies, thereby offering attractive investment opportunities for potential partners.

As Integrity Community Builders and PCCP embark on this ambitious joint venture, they are poised to redefine the landscape of rental communities in the U.S., bringing innovative, sustainable housing solutions to a diverse range of residents.

In summary, this partnership reflects a shared vision of building communities that are not just places to live, but vibrant neighborhoods where families can thrive. With the backing of significant resources and experienced leadership, the joint venture is set to make a lasting impact on the rental housing market across the nation.