‘It’s staggering.’ Equity floods built-to-rent space as some lenders remain hesitant about sector

By Ashley Fahey | Phoenix Business Journal

Keaton Merrell has been on a road trip of sorts in the past 90 days, traveling to different states and markets to talk about build-to-rent with lenders.

Merrell, managing director at commercial real estate finance firm Walker & Dunlop Inc., has been working in the build-to-rent sector for the past five years, when it was largely more of idea than a reality outside of Phoenix, the epicenter of single-family rental.

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