CastleRock Residential Residential Community Development
CastleRock Residential sponsors and develops single-family residential (SFR) rental communities. High mobility rates, student and consumer debt, reduced homeowner incentives, and tighter mortgage policies are causing millennials and other demographic groups to flock to SFR rentals. This is the second largest real estate asset type in the country and comprises 37 percent of all total rental units in the United States.
Investors in SFR rentals through CastleRock Residential receive competitive advantages over investing in traditional multi-family rentals. SFR rentals experience lower turnover, as renters are typically families that are more likely to have children enrolled in local schools and prefer the added privacy and space that single-family homes provide. These assets also generate higher yields and investment returns with more exit strategies, reducing risk. Nationwide, SFR rentals have had stronger rent growth with no down years, even during recessions.