JP Morgan, Georgia Capital Team on BTR Venture

J.P. Morgan Asset Management has partnered with Georgia Capital and Paran Homes to create Laseter Development Group, a new build-to-rent (BTR) development company. The partnership aims to boost the housing supply in high-demand Sunbelt regions.

The venture’s structure sees institutional investors, advised by J.P. Morgan, and the principals of Georgia Capital/Paran Homes each holding a 50% stake in Laseter.

Laseter Development Group plans to break ground on its initial two projects in 2025, with developments near Atlanta, GA, and Nashville, TN. The first project will feature 165 homes near Atlanta, while the second will consist of 126 homes near Nashville. The company has appointed Whit Marshall, a seasoned industry professional with over 20 years of experience, as its founder and CEO.

“Demographic shifts and job growth in the Sunbelt 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,” said Chad Tredway, head of real estate Americas at J.P. Morgan Asset Management.

Since 2020, Georgia Capital and its affiliated production homebuilding company, Paran Homes, have developed 10 BTR projects and completed three forward sale transactions. Their extensive track record includes building more than 3,000 single-family homes and developing over 6,000 residential lots since 2010.

J.P. Morgan Asset Management has built a portfolio of nearly $2 billion in single-family rentals, comprising 65 communities and over 6,000 homes nationwide, since 2020.