NEW YORK, Feb. 13, 2025 ~ J.P. Morgan Asset Management, in partnership with Georgia Capital and Paran Homes, has announced the launch of a new build-to-rent (BTR) development company called Laseter Development Group. This joint venture, with each party owning 50%, aims to address the housing shortage in the United States by building single-family rentals in high-demand areas across the Southeast.

Laseter Development Group will utilize its comprehensive in-house expertise in land development and home building to increase the housing supply. The company will also collaborate with outside partners to complete its developments and offer third-party general contracting services to other BTR developers. The first two developments are set to break ground this year in Atlanta, GA and Nashville, TN, featuring 165 and 126 homes respectively.

Chad Tredway, Head of Real Estate Americas at J.P. Morgan Asset Management, stated that this initiative reflects their strategic focus on the BTR asset class and reinforces their commitment to this sector. He also noted that demographic shifts and job growth in the Sunbelt region are driving increased demand for single-family housing. With Millennials seeking more space and housing prices at record highs, many are turning to rentals, fueling the growth of this sector.

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Preston Meyer, Portfolio Manager at J.P. Morgan Asset Management, added that this partnership presents an opportunity to create value for their clients, partners, and local communities by providing new housing solutions to meet the growing demand.

Whit Marshall has been appointed as Founder and CEO of Laseter Development Group. With over 20 years of experience in land development and residential construction management, Marshall brings a wealth of knowledge to the company.

Marshall expressed his belief in the need for housing alternatives in the country and highlighted how different the institutional world is from production homebuilding. He believes that combining their expertise with J.P. Morgan's scale and investing perspective puts them at the forefront of this unique opportunity in the early stages of the BTR sector.

Georgia Capital and Paran Homes have been involved in the BTR space since 2020. In that time, they have built a portfolio of ten BTR developments and executed three forward sale transactions. Together, they have built over 3,000 single-family homes and developed, sold, or financed more than 6,000 residential lots since 2010.

J.P. Morgan Asset Management has also been a leader in the single-family rental space since 2020. They currently own a portfolio of nearly $2 billion, consisting of 65 communities and over 6,000 homes throughout the United States on behalf of institutional investors.

With this new partnership and their combined expertise, Laseter Development Group is poised to make a significant impact on the housing shortage in the Southeast and beyond.

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