UPDATE
Nine Townhomes Framed

Emma at Arabella Village – Phase I

Tanner, Alabama
| Community Development

Emma at Arabella Village Phase I is a 66-lot Build-to-Rent project in Huntsville, Alabama, within our BTR allocation (70% of the fund).

Next Steps: Begin Vertical Construction on Townhomes
Fully Funded
100%
FUND LEVEL RETURNS

Emma at Arabella Village Phase I is a 66-lot Build-to-Rent project in Huntsville, Alabama, within our BTR allocation (70% of the fund).

Emma at Arabella Village Phase I is located in Huntsville, Alabama, and consists of 66 lots within a larger master-planned community. Originally planned as a lot delivery project, we pivoted to combine Phases I and III into a fully amenitized Build-to-Rent (BTR) community.

This phase will feature newly developed townhomes that align with our broader strategy of creating long-term value, while also delivering much-needed rental housing to a growing market.

As part of the fund’s 70% BTR allocation, this project demonstrates the strength of our vertically integrated approach, giving us the flexibility to adjust strategies based on market conditions and maximize returns for our investors.

Project Photos

emma phase 1 december 2025 (1)
Exterior Image of Framed Townhome – December 2025
emma phase 1 december 2025 (1)
Exterior Image of Framed Townhome – December 2025
emma phase 1 december 2025 (2)
Framing Underway on Additional Lots – December 2025
emma phase 1 december 2025 (3)
Exterior Image of Framed Townhome – December 2025
Screenshot 2025 10 25 At 54559 PM Edited
Preparing for Foundation Pour – November 2025
Screenshot 2025 10 25 At 52204 PM Edited
Preparing for Vertical Construction – November 2025
Screenshot 2025 09 16 At 31630 PM Edited
Horizontal Development Complete – March 2024
DJI 0136 Edited
Installation of Underground Utilities – November 2023

Project Updates

At any given time, our portfolio includes projects in different phases—acquisition, development, stabilization, and exit. That’s by design. This staggered structure allows us to generate consistent cash flow while building long-term value, freeing us to sell, hold, or refinance based on what the market demands, not arbitrary dates.

Here’s where our projects stand today.

December 5, 2025

Nine Townhomes Framed

In October, we officially began vertical construction on Phase 1 of Emma at Arabella Village. Since then, framing has been completed on approximately nine townhomes, with several additional units underway, reflecting consistent progress as the project advances.
December 5, 2025
October 17, 2025

Began Vertical Construction

We have officially began vertical construction on the townhomes for Phase 1. As we progress with the development of this project, we will continue to receive development fees. We share our development fee's with investors through quarterly distributions
October 17, 2025
September 25, 2025

Preparing to Break Ground

Last month, we received approval for our building permit after submitting final design plans. Our team is now mobilizing on-site and preparing for work to begin. We expect to start vertical construction within the next month.
September 25, 2025
August 22, 2025

Obtained Building Permit

Last quarter, we finalized the budget and pricing and secured loan terms. This week, we received our building permit and are ready to begin vertical construction. As construction progresses, we will generate additional development fees.
August 22, 2025
July 16, 2025

Working to Obtain a Building Permit

In Q1 2025, we finalized construction plans for 66 townhome lots at Emma Phase 1. Last quarter, we completed the construction budget, finalized pricing, and secured loan terms. We are now working to obtain our building permit.
July 16, 2025
June 30, 2025

Finalizing Terms with the Bank

In April 2025, we finalized the construction budget, followed by finalized product pricing in May. In June, we began finalizing terms with the bank. Our next step is to begin vertical construction soon, advancing overall project development forward.
June 30, 2025
May 7, 2025

Construction Budget & Pricing Finalized

In Q1 2025, we finalized construction plans. In April, we finalized the budget, and in May, pricing. Next, we begin vertical construction on townhomes. Once underway, all development fees will be shared with investors through quarterly distributions.
May 7, 2025
April 16, 2025

Zoning Plans Finalized

In Q3 2024, we finished horizontal development on 66 lots. In Q4, we pivoted from selling to a builder and chose to build townhomes. Q1 2025, zoning and construction plans were finalized. With BTR at 70% of our fund, we maintain flexibility and multiple exit strategies.
April 16, 2025
February 12, 2025

Finalized Residential Business Plan

Last quarter, we revised our business plan and pivoted on the residential side. We are now combining Emma Phases 1 and 3 into a single, fully amenitized BTR community. This approach will allow us to maximize returns and better match the market.
February 12, 2025
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