Man GPM, Bouwinvest Partner on Net-Zero SFR Projects

Plans call for as many as 1,000 homes across the U.S.

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Man Global Private Markets has partnered with Bouwinvest Real Estate Investors to develop up to 1,000 net zero-energy, single-family rental homes across the U.S. The first development will be located in Charlotte, N.C., in what they call the first institutionally backed build-to-rent net zero energy single-family rental community in the nation.

The homes will feature three or more bedrooms and are being designed and constructed to attain Energy Star certification. The developers will use energy-efficient building materials and heating and cooling systems, rooftop solar panels, Energy Star-certified appliances, electric vehicle charging ports, low flow water fixtures, LED lighting and low maintenance yards. The partners expect to deliver the first homes in the first half of 2023.

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“Net zero-energy SFR homes seek to tackle a lot of critical issues including a climate crisis, historically low housing supply and renter demand for sustainable and healthy living environments. We have been building SFRs since 2014 and Energy Star-certified homes since 2018—building net zero-energy single-family rental communities was a natural progression,” Anthony Cazazian, head of U.S. residential real estate at Man GPM, told Multi-Housing News.

The homes will be built to meet a Home Energy Rating System score of zero, with the renewable energy produced by rooftop solar panels equal to the property’s annual energy usage.

Investing in Charlotte

Man GPM has been investing in Charlotte since 2013 and currently manages more than 550 rental homes in the area. It is very familiar with the market as the city houses the company’s SFR operational headquarters.

“Charlotte continues to be one of Man GPM’s high conviction markets for SFR investments, owing to strong macroeconomic factors and both historical and forecasted SFR key performance indicators. For these reasons combined, Man GPM and Bouwinvest felt it was the ideal place to begin our joint venture,” said Cazazian.

Man GPM operates in 18 markets in the South, Midwest and West regions of the United States. The company has been investing in build-to-rent developments since 2014, including 13 self-contained, purpose-built rental communities.

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