Hines Enters BTR Sector

The real estate investment manager joins the ever-growing field of build-to-rent.

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Real estate investment manager Hines, through Hines U.S. Property Partners, has acquired its first build-to-rent (BTR) community. Blu South in Pineville, N.C., will have 551 three- and four-bedroom BTR townhomes, single-family detached homes and duplexes when completed. Just over 60% of the homes have been delivered, with the rest expected in the third quarter of 2025.

"Blu South offers optionality for Charlotte residents seeking exceptional housing that is attainably priced and conveniently located," said Paul Zarian, Managing Director at Hines, in a release. "It is rare to find a build-to-rent community that is adjacent to transit and centrally located among the city’s major employment nodes. That is the type of location that we have conviction in long-term."

Among the amenities at the community are a swimming pool, pet spa, pickleball court and clubhouse. The homes will have two-car garages as well.