Exclusive: Highgate Sells Detroit BTR Community

Highgate Capital Group has sold Stonehaven, a 105-unit single-family rental property in Shelby Township, Mich., according to Yardi Matrix information. Peak Capital Partners acquired the metro Detroit asset.

The property previously traded in January 2022, when Woodlake Homes sold it to Highgate, the data provider shows. For that deal, Highgate obtained a $17 million Fannie Mae loan originated by Berkadia.

Located at 49135 E. Woods Drive, the community is just off Highway 53 and close to multiple retail and dining options, including a Walmart Supercenter. Downtown Detroit is 31 miles south.

Completed in 2013, the community comprises seven two-story buildings across 9 acres. Units have two-bedroom floorplans ranging from 1,240 to 1,545 square feet. Apartments have walk-in closets, while select layouts also feature private balconies or patios. Common-area amenities include an outdoor fire pit, an outdoor dining area with grilling stations, a dog park, a playground and garages.

Peak Capital Partners has assets in more than 20 markets across the U.S., with a focus on Mountain West, Midwest and Sunbelt. Earlier this year, the company purchased Momentum at First Creek, a 200-unit property, for $56 million in Denver. This marked one of the largest multifamily transaction activities of the year in that metro.

SFR sector figures remain strong

The single-family rental sector showed modest improvement in June, with national rent growth rising 1.5 percent year-over-year, the strongest pace since late 2025. Still, growth remained below last year’s 2.5 percent increase, pointing to a market that is firming gradually rather than accelerating broadly.

Higher-end communities continued to outperform lower-end properties, while midwestern markets led gains and several Sun Belt metros remained softer. In Detroit, advertised asking rents in the metro’s single-family rental segment rose 1.8 percent year-over-year to $2,270 as of June, outpacing the 1.5 percent national increase.