Garner Build-to-Rent

Saxum will develop the 29-acre site in Garner, NC, a suburb of Raleigh, into a state-of-the-art, 106 unit Build-to-Rent (BTR) community. The Project will feature 3- and 4-bedroom units with a mix of one- and two-car garages and private fenced yards. Community amenities will include a clubhouse, pool, dog park, pickleball courts, pocket park, and walking trails.

The Project is located within the Raleigh MSA, which continues to be one of the fastest growing cities in the U.S. with over 2% annual population growth. The Raleigh market has more than 1.5 million residents, and nearby Durham adds another 600,000, giving the combined Research Triangle area a population of over 2.1 million. Raleigh continues to be one of the best performing BTR markets in the country, only behind Kansas City, with 3.5% year-over-year rent growth and 97% average occupancy.

The Project is less than 9 miles from Downtown Raleigh (+48K employees) and less than 25 minutes from Research Triangle Park (+55K employees), Weston Parkway Corridor (+18K employees), and Perimeter Park (+29K employees). In addition to strong employment drivers, the Raleigh housing market continues to soar, with the median home price increasing to $448K, up 55% over the past 5 years.

• North Carolina Among the Southeast's BTR Leaders