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Integrity Community Builders and PCCP launch $200M BTR joint venture
The programmatic JV targets build-to-rent communities with detached homes, townhomes, and cottage-style rentals across up to 19 markets.
Integrity Community Builders (ICB) and PCCP have formed a programmatic joint venture to develop build-to-rent (BTR) communities across the United States, Commercial Observer reports. The Houston-based ICB will bring land acquisition, development, and construction capabilities, while PCCP will contribute institutional investment expertise.
The co-investment deal calls for the partners to deploy up to $200 million per year into BTR communities consisting of detached homes, townhomes, and cottage-style rentals in markets where ICB and its affiliates already operate. ICB’s vice president of BTR, Chad Durham, said the venture is designed to scale ICB’s platform with the right asset-managing partner.
PCCP partner and head of multifamily, Jennifer Diaz, said the partnership reflects PCCP’s strategic focus on expanding into BTR and developing high-quality communities in growth markets. ICB said its goal is creating rental communities in up to 19 markets.
ICB, a wholly owned subsidiary of Weekly Homes, was founded in 2020. The firm has built 22 communities and has another five under construction for a total of 3,000 rental homes, and it has worked with PCCP previously as a general contractor.