Tricon Delivers California BTR Community
This is one of five projects the developer plans to open in the next few months.
Tricon Twelve Bridges in Lincoln, Calif. Image courtesy of Tricon Residential
Tricon Residential, Regis Homes and Woodside Homes have completed Tricon Twelve Bridges, a 161-townhome build-to-rent community in Lincoln, Calif. The property, built in the Sacramento suburbs, will be the first of five communities Tricon plans to open in the coming months.
In January, Blackstone agreed to acquire Tricon Residential in a $3.5 billion deal. Earlier this month, Blackstone Real Estate Partners X, along with Blackstone Real Estate Income Trust, completed the acquisition and took the company private. In addition to Tricon’s ongoing pipeline, Blackstone plans to invest another $1 billion in single-family home capital projects through the platform in the next few years. In addition to its development pipeline, Tricon’s portfolio includes some 38,000 rental homes in the U.S. Its homes are primarily located in Sun Belt markets, including Atlanta, Charlotte, Dallas, Tampa and Phoenix. The company also owns rental properties in Toronto.
BTR property
Located at 1136 Victorian St. in Lincoln, Tricon Twelve Bridges consists of 161 single-family and duet rental homes with five floorplans that offer open-concept living in two-, three- and four-bedroom options. The homes feature gourmet kitchens with granite countertops and stainless steel appliances. Other residential amenities include state-of-the-art smart home technology, tankless water heaters, fully fenced backyards, optional EV chargers and solar arrays.
Community amenities at Tricon Twelve Bridges include a clubhouse with prep kitchen and lounge, resort-style pool with sundeck and a barbecue area with covered outdoor seating.
Tricon Twelve Bridges will be operated by Tricon Residential. Regis Homes was the developer along with Tricon Residential. Woodside Homes was the general contractor.
Earlier deliveries include Tricon Willow Creek, a 148-home community in Tomball, Texas, completed last fall that was part of a BTR pipeline of 3,000 new rental homes across 23 communities announced in late 2021. Tricon Willow Creek was a partnership between Tricon and HHS Residential. It was the first of 14 BTR communities Tricon was building in the Houston, Dallas, Austin and San Antonio areas in Texas, including the 155-home Tricon Bryson community in Leander, Texas, another Triton and HHS Residential partnership.
