TORONTO — Ontario-based Great Gulf Group has announced the launch of the Beacon Residential brand, a new purpose-built, single-family-rental community division.
The launch is linked to the firm’s growth of its build-to-rent portfolio in the U.S., with a total of 16 communities, nine currently for lease and several more expected to be released this year.
In the last three years Great Gulf with its LP investors have committed $260 million of their $400-million target to over 2,300 units across 16 projects in the U.S. Communities are located in the metropolitan areas of Charleston, Orlando, Austin, Houston, Tampa, Dallas and San Antonio.
Great Gulf has built more than 30,000 homes in Canada. Its U.S. sister company, Ashton Woods Homes, has delivered more than 70,000 homes across eight American states.
“The launch of Beacon Residential could not have come at a better time. While we’ve had an active portfolio in this asset class for over three years, we recognized the opportunity to formalize our activities with the launch of a dedicated brand,” said Beacon president Kiel O’Sullivan in a statement.
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