Athens Investor Transitions from For-Sale to BTR Project
Trilogy Investment Company (TIC) acquired REV3 at Millcreek, a 90-townhome development in Athens, Georgia. Originally planned as a for-sale community, Trilogy Investment Company will convert the property into a build-to-rent community.
Trilogy’s Jason Joseph adds, “As homeownership becomes out of reach for many, resulting in slower absorption for retail communities, converting existing developments into professionally managed rentals lets people enjoy the space, amenities, and neighborhood feel of a home without the long-term burdens of ownership.” TIC has two additional “for-sale to rent” conversions expected to close within the next 90 days, reflecting its conviction in this evolving housing approach.
REV3 Homes, a division of Trilogy Investment Company, will serve as the builder for the community.
With homes ranging from 1,667 to 1,800 square feet, each home will offer three bedrooms, two-and-a-half or three bathrooms, and attached garages.
Amenities will include walking trails, open green space, a playground, and pet-friendly areas.
Leasing has already started, with the first homes scheduled for delivery in November 2025.
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Brokers
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
Lenders
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout