J.P. Morgan Asset Management, Principals of Georgia Capital and Paran Homes Launch Build-To-Rent Development Company

Rhea-AI Summary

J.P. Morgan Asset Management has partnered with Georgia Capital and Paran Homes to launch Laseter Development Group, a new build-to-rent (BTR) development company. The venture aims to increase housing supply in high-demand Sunbelt areas, with institutional investors advised by J.P. Morgan and the principals of Georgia Capital/Paran Homes each owning 50% of Laseter.

The company plans to break ground on its first two developments in 2025, featuring 165 homes near Atlanta, GA, and 126 homes near Nashville, TN. Whit Marshall, who has over 20 years of industry experience, will serve as Founder and CEO. Since 2020, 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.

Positive

• JPM has established a significant presence in single-family rentals with a $2B portfolio
• Partnership provides immediate scale with 291 new homes planned for 2025
• Strategic expansion into high-growth Sunbelt markets with strong housing demand
• Vertical integration reduces costs and increases operational efficiency

Negative

• None.

News Market Reaction

+0.32%

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+0.32% News Effect

On the day this news was published, JPM gained 0.32%, reflecting a mild positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

Laseter Development Group will focus on delivering housing in rapidly growing Sunbelt market

NEW YORK, Feb. 13, 2025 /PRNewswire/ -- Institutional investors advised by J.P. Morgan Asset Management in partnership with the principals of Georgia Capital, an Atlanta-based residential investment and development firm, and its affiliated production homebuilding company, Paran Homes, today announced the launch of Laseter Development Group ("Laseter"). This newly created, vertically integrated build-to-rent (BTR) development company will look to increase the housing supply by building single-family rentals in high-demand areas across the Southeast. Institutional investors advised by J.P. Morgan Asset Management and the principals Georgia Capital and Paran Homes each own 50% of Laseter.

Laseter is dedicated to addressing the U.S. housing shortage by leveraging its comprehensive in-house land development and home building expertise. The company will collaborate with outside partners to complete its developments, as well as provide third-party general contracting services to other BTR developers. The first two developments are expected to break ground this year in the suburbs of Atlanta, GA, and Nashville, TN, featuring 165 and 126 homes, respectively. 

"This initiative underscores our strategic focus on the BTR asset class and reinforces our commitment to this high-conviction sector," said Chad Tredway, Head of Real Estate Americas at J.P. Morgan Asset Management. "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."

Preston Meyer, Portfolio Manager at J.P. Morgan Asset Management, added: "This partnership provides an opportunity to create value for our clients, partners and local communities by building new housing solutions to meet the rapidly growing demand."

Whit Marshall, a seasoned leader with over 20 years of land, development and residential construction management experience, will serve as Founder and CEO for Laseter.

"We are big believers in the need for housing alternatives in this country. The institutional world and the production homebuilding world are very different. We believe that the combination of our land development and production homebuilding expertise with J.P. Morgan's scale and investing perspective positions us to be at the forefront of this unique opportunity in the early stages of this new real estate sector," said Marshall.  

Georgia Capital and Paran Homes entered the BTR space in 2020. Since then, it has built a portfolio of ten BTR developments and executed three forward sale transactions. Since 2010, the companies have built more than 3,000 single-family homes and developed, sold, or financed more than 6,000 residential lots. Since 2020, J.P. Morgan Asset Management has been a leader in the single-family rental space and currently owns a nearly $2 billion portfolio totaling 65 communities and more than 6,000 homes throughout the United States on behalf of institutional investors.

About Laseter Development Group
Laseter Development Group is dedicated to developing high-quality build-to-rent (BTR) communities across the Southeast. Recognizing the unique execution required for BTR projects compared to traditional for-sale communities, Laseter brings together land development and production homebuilding with an institutional perspective to deliver affordable, quality homes. By fostering a collaborative approach, Laseter seeks to maximize cost efficiencies, enhance affordability for individuals and families and provide superior value for its partners and clients.

About J.P. Morgan Asset Management
J.P. Morgan Asset Management is a global leader in alternatives, with over 60 years of experience managing alternative investments, including real estate, private equity, private credit, liquid alternative products, infrastructure, transport, hedge funds, and forestry. As of December 31, 2024, J.P. Morgan oversees more than $400 billion in alternative assets.

With $3.6 trillion in assets under management as of December 31, 2024, J.P. Morgan Asset Management serves institutions, retail investors, and high-net-worth individuals across every major market globally. The firm offers comprehensive investment management services in equities, fixed income, alternatives, and liquidity.

For more information, visit www.jpmorgan.com/am

JPMorgan Chase & Co. (NYSE: JPM) is a leading financial services firm based in the United States of America ("U.S."), with operations worldwide. JPMorganChase had $4.0 trillion in assets and $345 billion in stockholders' equity as of December 31, 2024. The Firm is a leader in investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing and asset management. Under the J.P. Morgan and Chase brands, the Firm serves millions of customers in the U.S., and many of the world's most prominent corporate, institutional and government clients globally. Information about JPMorgan Chase & Co. is available at www.jpmorganchase.com

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SOURCE J.P. Morgan Asset Management

FAQ

What is the size of JPM's current single-family rental portfolio?

J.P. Morgan Asset Management owns a nearly $2 billion portfolio consisting of 65 communities and more than 6,000 homes throughout the United States.

How many homes will Laseter Development Group build in its first projects?

Laseter will build 291 homes total in its first two developments: 165 homes near Atlanta, GA, and 126 homes near Nashville, TN.

What is the ownership structure of JPM's new Laseter Development Group?

The ownership is split 50-50 between institutional investors advised by J.P. Morgan Asset Management and the principals of Georgia Capital and Paran Homes.

When will JPM's Laseter Development Group break ground on its first projects?

The first two developments are expected to break ground in 2025 in the suburbs of Atlanta, GA, and Nashville, TN.

Who will lead JPM's new Laseter Development Group as CEO?

Whit Marshall, who has over 20 years of land, development and residential construction management experience, will serve as Founder and CEO of Laseter.