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HomeProjects and opportunitiesMaryland developer Foulger-Pratt turns to Build-to-Rent with $250 million in DC-area, Carolinas...

Maryland developer Foulger-Pratt turns to Build-to-Rent with $250 million in DC-area, Carolinas projects

Maryland-based developer Foulger-Pratt is expanding into Build-to-Rent (BTR) projects, expanding on more than a half-century experience of building apartments and commercial projects.

Five projects, totalling more than $250 million, are under-way in the D.C. suburbs and Carolinas, and all are expected to begin leasing within the next 9nine months, Foulger-Pratt managing director Joe Clauser told Bisnow.

The developments include townhouses and single-family homes.

“The developer is partnering with a pair of institutional investors, which Clauser declined to name, Bisnow reported on Sept. 25. “He said the firm aims to add around 1,000 more units to its portfolio over the next two years and continue to grow from there.”

“Our ultimate long-term goal here is to have a multibillion-dollar platform in this space,” Clauser said.

Mark Buckshon
Mark Buckshonhttps://washingtonconstructionnews.com
Mark Buckshon is the publisher and interim editor of Washington Construction News. He is also president of the Construction News and Report Group of Companies. He combines a journalism and business background, and has published construction trade publications for more than 30 years, after an earlier career in journalism, which culminated when he lived through the transition from Rhodesia to Zimbabwe in 1978-80 as a sub-editor for the Bulawayo Chronicle and a correspondent for a Canadian news service.

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