Industry leader expanding geographic footprint and staff to meet renter demand for quality amenitized housing in premium under supplied markets
San Antonio, Texas (January 25, 2021) – AHV Communities, a pioneer and vertically integrated leader in community-centric purpose-built single-family rental (SFR) homes, today announced that its 2021 project pipeline now includes eight communities encompassing 1,500 rental units and more than $500 million in committed capital. The 2021 pipeline follows a surge in four deals completed and under construction in late 2020 valued at $300 million. AHV Communities is expanding both its staff and its target markets to accommodate its growth and to meet renter demand in key underserved markets.
“AHV Communities has entered a significant period of expansion and growth,” says Mark Wolf, CEO of AHV Communities. “After pioneering and proving the luxury single-family rental contiguous community model years ago, working diligently to educate both the real estate and capital markets on its viability, the sector has finally garnered the full attention of institutional capital and AHV communities has hit its stride.”
AHV Communities’ current 2021 pipeline encompasses both single-family rental and attached townhome and duplex units. The communities, in various stages of development and operation, are located in Seattle, Southern California, all four Texas MSAs, Denver and Nashville. Each of the eight 2021 ground-up developments is presented as a contiguous community, a model which differentiates AHV Communities from most other SFR participants, many of whom either aggregate existing homes to rent or purchase homes in bulk from builders to rent. All of AHV’s communities are located in prime locations and offer onsite maintenance, two additional differentiators from other competing communities.
“While we started the year with a schedule of eight communities, we expect our activity will expand,” adds Wolf. “We believe we are on target to hit a pipeline of 12 or more communities this year.”
The company is currently undergoing an expansion in both staff and regional footprint. Onsite community supervision aside, the company doubled its staff in the last 12 months and looks to continue adding key players throughout 2021.
AHV Communities is also growing its regional focus and footprint. The company is specifically targeting premier locations for new rental communities in additional markets throughout the Southeast, Texas and Colorado.
“We are seeking new community opportunities in highly desirable markets where both the Millennial and Boomer populations are burgeoning and where supply still fails to meet the demand for quality rentals,” adds Wolf, who recently relocated to San Antonio, Texas to help expansion efforts throughout the region. “At the same time that we are expanding into new locations, we are also answering heightened leasing activity in our existing communities. A lot of this demand is being driven by the pandemic and the growing desire among renters for private, flexible accommodations that are more conducive to at-home work, study and fitness. Our goal isn’t to be the biggest, but rather to continue to be the premier developer of purpose-built rental communities, which we believe comes from remaining disciplined and focused on superior locations and product over aggregation.”
Established in 2013 by Wolf and Spencer Rinker, president of AHV Communities, the company is responsible for the delivery of 3,800 rental units/lots worth a value of approximately $1 billion. The company closed on four deals between September and December 2020 with an approximate total value of $300 million, demonstrating the surge in company development activity. This uptick is also represented in the company’s 2021 pipeline and is expected to continue over the next three years. The company, its community developments, value added execution track record, and its growth plans are supported by commitments from both high-net-worth and blue-chip institutional capital partner commitments.
“Our communities are designed for long-term sustainability and growth,” says Rinker. “Our approach has always been to add value for our partners by building and operating extremely well-located communities that we are proud to put our name on at a significant discount to market value. Onsite maintenance and quality control ensures the integrity of our rentals as well as the protection of the assets’ value over time, ultimately delivering ROI for our investors.”
About AHV Communities
AHV Communities (“AHV”) is a privately held developer, builder, operator and industry leader in purpose-built luxury single-family and attached home rental communities. The company serves renters in premium supply constrained markets with quality constructed and well amenitized rental homes set within contiguous communities. All AHV homes and communities are maintained onsite, ensuring long-term asset quality and a stronger value proposition for renters, cities and investors alike. AHV Communities is responsible for the delivery of 3,800 units/lots with a value of approximately $1 billion. The company has recently moved its headquarters to San Antonio, Texas but still maintains a full staff in Costa Mesa, California. www.ahvcommunities.com