DALLAS – (Realty News Report) – Christopher Todd Capital has expanded its Texas portfolio with the purchase of two recently developed build-to-rent communities in the Dallas-Fort Worth metroplex. The deal comes on the heels of a Houston acquisition late last year as the Arizona-based company grows its portfolio of cottage style communities for the rental market.
The properties were acquired from NexMetro Communities for an undisclosed price. NexMetro develops BTR neighborhoods under the Avilla Homes brand in Sunbelt markets such as Phoenix, Dallas, Denver, Atlanta, Austin, and Tampa.
The newly acquired rental communities, totaling 335 homes, will be managed by Dallas-based Willow Bridge and introduce the Christopher Todd Neighborhoods name after a rebranding. The properties consist of Christopher Todd Neighborhoods Celina Park at 3420 S. Dallas Parkway in the city of Celina and Christopher Todd Neighborhoods Elizabeth Creek at 1104 State Highway 114 in Justin, Texas.
Christopher Todd Capital is a privately-held family office that owns Christopher Todd Communities, a developer of BTR communities in Arizona that is focused on acquiring existing communities.
“We have always had great respect for NexMetro’s industry leadership and their communities,” said Todd Wood, CEO of Christopher Todd Communities.
Christopher Todd Enters The Woodlands
Christopher Todd has acquired more than $250 million of purpose-built cottage style communities in the last 12 months including properties in Phoenix and Houston. The company entered Texas with the acquisition of a 314-home community, now called Cottage Living, near The Woodlands in 2024.
NexMetro has developed 13 other neighborhoods in the greater Dallas-Fort Worth metroplex. Since 2012, the company has more than 60 neighborhoods completed, under construction, or in lease-up.
“This transaction provides the opportunity to realize a competitive return for our investors while freeing up capital for new ventures,” said NexMetro CEO Josh Hartmann.
The Build-To-Rent sector has emerged in popularity because it usually offers backyards and more access to public school that are similar to a single-family neighborhood in the suburbs. Single-family rentals present an option for renters seeking the lifestyle and amenities of a suburban single-family home without up-front expenses such as hefty down payments associated with homeownership.
Plus, elevated prices are keeping ownership out of reach for many. Single-family home prices rose by 5.2% in the first quarter of 2025 compared to the first quarter of 2024, according to the Fannie Mae Home Price Index.
As developers respond to the market, a number of build-to-rent deals are in the national pipeline.
PPR Capital, a private equity firm in Wayne, Pa., recently entered the build-to-rent sector with the $87 million acquisition of Highline at Knoxville, a new BTR community in Tennessee. Phase I has 110 homes in lease-up and another 151 units are planned in Phase II. The acquisition was made in partnership with Center Creek Capital Group.
Chicago-based Peakline Real Estate Funds launched a fund to enter the build-to-rent space. The BTR Fund will create purpose-built, single-family rental communities with high-quality shared amenities in markets throughout the Southeast, Mountain West, and Midwest.
New York-based Lafayette Real Estate announced the Lorraine Crossings build-to-rent development in the Sarasota, Fla. suburb of Lakewood Ranch. The deal expands Lafayette’s development pipeline to more than 2,000 BTR homes and lots under development. The first homes will be delivered in the second quarter of 2026.
The Dallas-based Willow Bridge firm was founded in 1965 by Mr. Mack Pogue as Lincoln Property Company.
April 22, 2025 Realty News Report Copyright 2025
Photo: Courtesy Christopher Todd
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File: Christopher Todd Expands BTR Holdings in Texas Mack Pogue, Todd Wood, Christopher Todd Expands BTR Holdings in Texas