Jordan Rose, founder and president of Rose Law Group, moderates ULI 2023 Housing Opportunity Conference

What’s Happening in Single Family Build-For-Rent?

This session moderated by Jordan Rose, founder and president of Rose Law Group, covered the perceptions vs. reality of the Build for Rent product type. While the industry has grown more accustomed to what Build for Rent is and what it can look like, questions remain on the role it fills in the housing industry and where Build for Rent is going. The panelists discussed their thoughts on the niche Build for Rent is filling, how capital markets are responding, what challenges plague its progress, and how Build for Rent can sustain should a recession hit the U.S. in the coming years.

Michael Finch has been an Advisor and practiced at a licensed Commercial Real Estate (CRE) Brokerage since 2005 and based in Phoenix, Arizona. Michael is considered a national leader in the Single Family Residential (SFR) and the Build for Rent (BFR) investment portfolio segment. The SFRhub platform typically has approximately $1B-$2B pipeline of activity in the SFR/BFR investment segment. Today, Michael is a Principal, Founder and Executive Vice President of several CRE client support companies including SVN | SFRhub Advisors (Brokerage), (technology, research and data), SFRhub Modular (sustainable building systems), and a member of the General Partner of SVN | SFR Capital Fund I, L.P. (CRE investment company) and Principal of SFR Capital Management, LLC (an RIA & asset management company). Michael could not be prouder of the teams he has successfully grown to national prominence and leadership to support the entire SFRhub platform and its clients. He continues to look for growth opportunities in the SFR and BFR investment portfolio segment to continue to create a culture of pride, integrity, transparency, success in a specialized investment class that is one of the most active, stable and risk mitigated commercial real estate asset classes in the country. Michael is Co-chair of the SVN National SFR Portfolio Product Council. technology is the market dominating power behind the success of all of its client support companies and alliance members. Spear heading much of the business development within the SFRhub platform Michael has the privilege of working with the best teams in the industry and continues to push the boundaries creating continued disruption and dominance in the specialized investment class.

Steve La Terra serves as the CEO of TerraLane Communities (“TLC”), a multi-family development company based in Arizona. He is responsible for all aspects of the company’s operations and is a member of the Investment Committee. He focuses his efforts on the evaluation of new opportunities, portfolio management and investor/partner relations. Prior to joining the company, Mr. La Terra was the Managing Director of Meyers Research, where he was the lead analyst on horizontal apartments opportunities throughout the US. Mr. La Terra’s background includes senior executive and principal-level positions with Acacia Capital Corporation, Apex Capital, Land Advisors Capital and Paradigm Private Equity Holdings. Mr. La Terra is a Full Member of the Urban Land Institute and has served as the Chair of a National Product Council and as Chair of ULI Arizona. He is currently the co-chair of the Pacific Coast Builder’s Conference Land and Capital Conference. Mr. La Terra earned his finance degree from San Diego State University and his development certificate from the Master of Real Estate Development program at Arizona State University.

Emily Leppert serves as Vice President, BTR Acquisitions at Progress Residential, where she leads the sourcing, underwriting, acquisition and asset management of newly constructed homes for the firm. Prior to launching this acquisition vertical in 2020, Ms. Leppert was instrumental in building the firm’s pricing and revenue management platform. Ms. Leppert brings over 20 years of residential investment experience across multifamily, single family and residential land. She is a full member of the Urban Land Institute and earned her Bachelor of Science degree with a major in Economics from the W.P. Carey School of Business at Arizona State University.

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March 2023