Continental Properties Company, Inc., a privately-held national developer, owner, and operator of real estate brands and communities has announced the launch of its new brand, Avanterra Homes. Continental broke ground on its first Avanterra community – Avanterra Wolf’s Crossing – in Oswego, IL, on Dec. 3, 2021. Featuring beautifully crafted, detached homes in a mix of one, two, three, and four-bedroom layouts, Avanterra single-family rental homes seek to meet the growing customer demand for single-family homes with the living convenience as well as modern amenities and finishes that leasing provides.
“The number of single-family rental homes increased by 18% from 2008-2018, and demand has continued to surge since the pandemic,” said Jim Schloemer, CEO of Continental Properties and Treasurer of the National Multifamily Housing Council (NMHC). “With the introduction of Avanterra Homes, we plan to capture this demand for single-family rental homes with a product that meets the needs and living expectations of this growing customer segment.”
“Continental Properties has been executing our multifamily strategy for over 20 years and has a great track record of success,” stated Dan Minahan, President and COO of Continental Properties. “Single-family rental homes are a natural product for Continental to launch given our success as a developer, owner, and operator in the multifamily industry since 2001. Avanterra Homes will join our already successful portfolio of rental housing brands, Springs and Authentix.”
“The strong performance of single-family rental communities is driving tremendous demand from investors as evidenced by superior valuations of these assets,” commented Ed Madell, EVP and CFO. “We believe that Avanterra provides an exciting opportunity for Continental to further enhance its offerings to investors in our Development and Income funds through greater diversification and access to a growing segment of the multifamily market.”