Great Gulf Group Launches Beacon Residential Brand As Its Build-to-rent Portfolio sees growing success In U.S. Sun Belt
Active since 2020, Beacon Residential builds on Great Gulf's existing build-to-rent portfolio, spanning seven U.S. markets and representing 16 communities and over 2,300 homes
TORONTO, July 25, 2023 /CNW/ - Great Gulf Group is pleased to announce the launch of the Beacon Residential brand, the company's purpose-built, single-family-rental community division. The unveiling of the brand comes at an opportune time as the build-to-rent portfolio continues to experience tremendous success in the U.S., with a total of 16 communities, nine currently for lease and several more expected to launch this year.
Since 2020, Great Gulf Group has been a catalyst in bringing an innovative approach to rental housing to the U.S. Sun Belt with quality construction and curated designs. In less than three years, the company, along with its LP investors, have already committed $260 million of their $400 million target to over 2,300 units across 16 projects. With communities in the metropolitan areas of Charleston, Orlando, Austin, Houston, Tampa, Dallas, and San Antonio, Beacon Residential's portfolio satisfies an incredible demand for quality, well built homes for lease in both stand-alone and master-planned communities within rapidly growing submarkets.
"The launch of Beacon Residential could not have come at a better time. While we've had an active portfolio in this asset class for over three years, we recognized the opportunity to formalize our activities with the launch of a dedicated brand. With demand driven by strong job growth, low taxes, high affordability, low unemployment, and the desirability for homes in warmer climates, we recognize the Sun Belt's appeal to a new wave of renters who prioritize flexibility and an array of other turnkey options over homeownership," says Kiel O'Sullivan, President, Beacon Residential.
Beacon Residential is a subsidiary of Great Gulf Group, an international, award-winning, innovative real estate developer with 48 years of experience. The company has built more than 30,000 homes in Canada. Through its U.S. sister company, Ashton Woods Homes, the group also has delivered more than 70,000 homes across eight American states. Drawing on the expertise and innovation of these companies, Beacon Residential is well positioned to deliver exceptional value to its residents, while adding to the much-needed housing stock within the areas it serves.
Beacon's professionally managed communities offer a maintenance-free lifestyle, along with a wide array of amenities such as smart home technology, lawn care, pest control, and 24/7 emergency maintenance. Residents also enjoy access to community amenities including pools, dog parks, playgrounds, and more.
"In the last couple of years, our communities have helped bring the benefits of apartment-style living to a single-family home setting, a market that has been underserved," continues O'Sullivan. "The growing demand for new, quality purpose-built rental housing is driven by factors such as affordability, changing life stages, and the increasing trend of 'renters by choice'. At Beacon, we believe the renter's experience should be at the forefront when developing our build-to-rent communities."
For more information about Beacon Residential, please visit www.beaconresidentialcommunities.com
About Great Gulf Group
Established in 1975, the Great Gulf Group includes Great Gulf, a premier real estate organization that develops and constructs low-rise, mid-rise, and high-rise communities across North America; First Gulf, a commercial developer specializing in industrial, life sciences, data center, and mixed-use properties; Tucker HiRise, focusing on the construction of high-density, mixed-used projects; H+ME Technology, a precision-engineered panelization manufacturing facility; a new recreation and resort division responsible for Taboo and Lora Bay in Ontario, and Killington Mountain in Vermont; and Beacon Residential, a single-family build-to-rent division with a growing presence across the U.S. Sun Belt.
Ashton Woods Homes, a sister company, was founded in 1989 by principals of the Great Gulf Group. Ashton Woods has delivered more than 70,000 homes across the U.S. Southeast and Southwest and is the largest privately held homebuilder in the United States, based on closings.
Learn more at www.greatgulfgroup.com
About Beacon Residential
Beacon Residential, a subsidiary of Great Gulf Group, is a leading build-to-rent company specializing in single-family communities. With a focus on sustainable construction, award-winning design, and a customer-centric approach, Beacon Residential aims to redefine rental living across the U.S. Sun Belt. Learn more at www.beaconresidentialcommunities.com.