Toll Brothers Sells Florida BTR Project Mid-Development
Eight homes are already online.
PCCP has acquired the under-construction Skymor Sanford, an 84-unit BTR project in Sanford, Fla. Toll Brothers previously owned the development, breaking ground in December 2025, according to Yardi Matrix. Greystar provides property management services.
The first batch of homes—eight units—has already debuted, while completion for the entire project is slated for the first quarter of 2027. All rental homes will feature three-bedroom layouts with an average size of 1,733 square feet. Amenities are set to include a swimming pool and a cabana.
Located at 3682 Caravan Lane, the property is less than 2 miles from Orlando Sanford International Airport. Seminole Towne Center, a 1.1 million-square-foot retail property, can be found within 10 miles, while downtown Orlando is roughly 22 miles southwest.
READ ALSO: Housing Completions
PCCP launched the Skymor BTR brand two years ago. Other such under-construction communities include Skymor Pearland, a 109-unit project in metro Houston, and the 130-unit Skymor Panola, a development in Greater Atlanta for which PCCP teamed up with homebuilder Paran Homes.
BTR’s shifting policy environment
The 21st Century ROAD to Housing Act has undergone significant changes pertaining to its BTR policies as of late. While an earlier version stipulated more stringent measures across the sector, a new version emerged last week.
The amendments strike down a previous seven-year divestment period for BTR developers and provide more leeway overall. The House is expected to pass the legislation today, May 20, and send it back to the Senate for final approval, as reported by Politico.
Post Housing Act changes, BTR deals flow
Shortly after last week’s announced legislative tweaks, several BTR stories emerged. In Huntsville, Ala., Trilogy Investment Co. wrapped up the initial groundwork for a 172-unit BTR project, dubbed REV3 at The Celeste. Vertical construction is expected to kick off next month.
Over in Chicagoland, homebuilder Lennar sold The Manors at Brookmere, a 108-unit BTR community developed in 2016. The asset changed hands for $26.4 million in one of the first-ever stabilized BTR sales across Greater Chicago, according to Cushman & Wakefield, which brokered the deal.
