Tzortzis Capital
    Build-to-Rent Community Financing
    Up to 85% LTC

    Build-to-Rent Community Financing

    Construction-to-permanent financing for build-to-rent single-family communities, up to 85% loan-to-cost.

    The Problem We Solve

    Build-to-rent is its own asset class — neither traditional spec home lending nor traditional multifamily lending fits cleanly. Sponsors need horizontal financing, vertical construction, and a lease-up / refi exit, ideally inside one structured facility. We arrange dedicated BTR programs that capitalize the entire cycle.

    Who This Is Built For

    • BTR developers building 25–500 detached or attached single-family rental homes
    • Sponsors with site control, fully entitled lots, and a defined property manager
    • Joint ventures with institutional LP equity needing an aligned first-lien lender
    • Homebuilders pivoting a section of a subdivision into a hold-and-rent BTR pod

    Program Terms

    Loan-to-Cost
    Up to 85% (with mezz)
    Loan Size
    $10M – $250M
    Structure
    Construction-to-permanent or construction + take-out
    Term (construction)
    24 – 36 months
    Term (permanent)
    5 / 7 / 10 year, IO available
    Recourse
    Non-recourse, with standard carve-outs

    How the Process Works

    1

    Project intake

    Site plan, unit mix, rent comps, GC contract, sponsor track record, equity stack.

    2

    Structured term sheet

    Sized to total cost, capitalized interest reserve, and stabilized DSCR — debt and equity components both.

    3

    Full diligence

    Appraisal, market study, environmental, geotech, GMP review, sponsor financial review, property management plan.

    4

    Close & phased draws

    Close in 8–12 weeks. Phased draws across horizontal, vertical, and lease-up milestones.

    Build-to-Rent in Your Market

    We place build-to-rent loans in every active U.S. growth metro. Pick your market for local terms, comps, and capital climate.

    Tampa, FLOrlando, FLJacksonville, FLMiami, FLDallas, TXFort Worth, TXHouston, TXAustin, TXSan Antonio, TXPhoenix, AZTucson, AZCharlotte, NCRaleigh, NCNashville, TNKnoxville, TNAtlanta, GACharleston, SCGreenville, SCSalt Lake City, UTProvo, UTBoise, IDLas Vegas, NVReno, NVDenver, COColorado Springs, COBoise, IDMeridian, IDCoeur d'Alene, ID

    Frequently Asked Questions

    Spec homes are underwritten to a fee-simple resale exit; BTR is underwritten to a stabilized DSCR and a refi or sale to an institutional buyer. That changes leverage, term, draw mechanics, and pricing. BTR loans are typically larger, longer, and capitalize an interest reserve through lease-up.

    Other Developer Programs

    Up to 90% LTC
    Spec Home Construction
    Up to 85% LTC
    Luxury Spec Home
    Up to 85% LTC
    Multifamily Construction
    $1M+ minimum
    Land Acquisition & Site Development
    Up to 60% LTC
    Horizontal Development

    Discuss a Build-to-Rent Deal

    Submit your project. We'll respond within 24-48 hours with indicative structure and next steps.

    Start Your Funding Conversation

    We typically respond within 24-48 hours.

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