AJ Capital Partners Launches SFR Development Platform

Focused on the Southeastern U.S., the new platform will construct build-to-rent properties.

Outpost Springs. Image courtesy of AJ Capital Partners

Outpost Springs. Image courtesy of AJ Capital Partners

Adventurous Journeys Capital Partners, known as AJ Capital, has launched Outpost Residential, a single-family development platform centered around amenity-focused build-to-rent communities in the southeastern United States.

The new entity has acquired land for communities in Austin, Texas, Foley, Ala., Savannah, Ga., and North Myrtle Beach, S.C. Additionally, the developer has plans for further projects in Charlotte, N.C., Nashville, Tenn., Charleston, S.C., and Tampa, Fla.

Current endeavors

Outpost Residential’s projects are titled after their locations’ nearby natural features. Amenities include fitness centers, clubhouses, swimming pools, outdoor kitchens, walking trails and dog parks. The platform’s currently named projects include:

  • Outpost Springs, a recently opened 150-unit community located at 37742 Leafside Ln. in Zephryhills, Fla. Sectioned into two adjacent neighborhoods, Outpost Springs North and South, the community offers two-story, two- and three-bedroom townhomes with stainless steel appliances, granite countertops, laundry machines, walk-in closets and attached garages. Located approximately 30 minutes from Tampa’s downtown, the community also has quick access to many local retail, dining and entertainment options, and is four miles away from the Crystal Springs Preserve.
  • Outpost Orchard, a 59 acre, 247-unit build-to-rent community in Foley, Ala., that broke ground in February 2022. Located at the site of a former pecan orchard at 1200 Pecan St., the development will offer two-, three-, four- and five-bedroom homes with attached garages. Across the community, residents will have access to many of the platform’s flagship amenities.
  • Outpost Bay, a 94-unit project located on Jimmy Deloach Pkwy. in Savannah, Ga. After its completion, the community will be located in close proximity to the beaches on Skinners Bay, as well as downtown Savannah, 19 miles away.
  • Outpost Falls, a 376-unit community located on McKinney Falls Pkwy. in Austin, Texas. A recreation and activity focused project that will give residents access to a swimming pool, fitness center, pickleball court, clubhouse, dog park and playground. The community will be seated directly adjacent to its namesake, McKinney Falls State Park.

The build-to-rent boom

Comprising 6 percent of all new housing being constructed nationwide, build-to-rent communities have attracted significant interest from many of the nation’s largest developers, in addition to experiencing historically high average rents of $2,020 per month, data from a 2022 Berkadia report shows. The most lucrative market for the asset class remains the Sun Belt, due in part to its fast population growth and warm climate.

Halstatt Real Estate Partners recently broke ground on Argos by Soltura, a 139-unit community in Fort Meyers, Fla., while in Fort Worth, Texas, Avanta Residential began construction on Avendale at Chisholm Trail Ranch, a 247-home development.

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