Ron Cadman & Travis Cadman to Create Build-to-Rent Community
Industry: Business
Real estate investors Ron Cadman and Travis Cadman recently secured land for a new build-to-rent community in Canada.
Los Angeles, USA (PRUnderground) May 21st, 2019
Two leading real estate investors, brothers Ron Cadman and Travis Cadman, recently acquired lands for a new build-to-rent community in Alberta, Canada – an increasingly popular real estate investing approach designed to benefit both investors and renters looking for new homes.
Permit planning for the Cadmans’ Alberta development is expected to be finalized this summer. The site spans 4.35 acres, with 3.821 acres of it being developable. In addition, the project is expected to feature 13 residential buildings with 104 units and 205 parking spaces. The Cadmans will also create one office and three garage banks featuring 21 total garage stalls. It is anticipated that the building will feature two stories with no basements.
According to Ron and Travis, the rental market remains strong due to the current lending stress test regulations. This demand is being spearheaded by the combination of a younger, rent-based population and renewed optimism in Alberta due to a recent provincial government change and expected economic stimulus.
The challenge that many investors are facing is figuring out how to pour capital into a real estate market where single family home prices are high, the inefficiency of having properties scattered throughout a location, and management efficiencies are squeezing financial returns. The solution that many investors have pursued is to focus more on developing properties. Specifically, they are buying land to build properties containing units that can be conveniently rented out. The build-to-rent strategy works particularly well in markets experiencing declining homeownership, along with reasonable land and building costs.
In addition to using the build-to-rent model to produce income, the Cadmans recently renovated a Baytown, Texas, apartment community called Verve. This project offers a contemporary feel with large closets, updated fixtures, fresh carpet, and inviting living spaces. The two also recently transformed a Houston apartment community with 250 units. This project now has new countertops along with a newly renovated pool.
Both Ron and Travis have 30+ years of experience in the real estate industry, with their most recent focus being the development and revitalization of multifamily real estate communities located in the Southern United States. The pair are also experienced in the construction of homes, apartment building acquisition, real estate management, and mixed-use property development.
The Cadmans are adept at generating income from real estate opportunities, including those in the area of land banking, development and repositioning.
The pair have developed and marketed more than 2,000 single family homes as well as a number of multi-family complexes. Travis and Ron continue to strive to provide top-notch customer service by putting the tenant’s needs first and forming solid relationships with seasoned professionals in all markets.
The news site hosting this press release is not associated with Travis or Ron Cadman. It is merely publishing a paid press release announcement submitted by a company, without any stated or implied endorsement of the product or service.
