ROGERS, Ark.--(BUSINESS WIRE)-- Marcus & Millichap Capital Corporation (MMCC), a leading provider of commercial real estate capital markets financing solutions, has arranged $53 million in refinancing for The Grove, a build-to-rent (BTR) multifamily property in Rogers, Arkansas.
John Brickson, managing director in MMCC’s Dallas office, represented a joint venture between Brittenum Group and Realty Capital Partners in securing and structuring three-year, nonrecourse financing.
“This financing repaid the borrower’s construction loan ahead of maturity, giving the borrower time to season the rent roll and position the property for a successful sale,” said Brickson. “The Grove has been very well received in the market and has exceptional resident demographics, with median household income of nearly $100,000 among the existing resident base. The property is one of the largest BTR communities by unit count in the Northwest Arkansas region and one of the few projects offering fully detached, single-family-style homes.”
Built in 2024, this 235-unit Class A community is 94.5% occupied and consists of 123 detached two-story, single-family-style cottages and 112 attached townhome-style residences. Amenities include a resort-style pool, 24-hour fitness center, golf simulator, package lockers, community clubhouse with co-working offices and a community kitchen, and a pickleball court.
About Marcus & Millichap Capital Corporation
Marcus & Millichap Capital Corporation (MMCC) is a subsidiary of Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada. MMCC provides commercial real estate capital markets financing solutions, including debt, mezzanine financing, preferred and joint venture equity, sponsor equity, loan sales and consultative and due diligence services. In 2025, MMCC closed 1,659 transactions totaling $11.9 billion. To learn more, please visit: marcusmillichap.com/financing.
About Brittenum Group
The Brittenum Group is a privately held, fully integrated residential development and construction firm focused on the development of single family, townhome, and build-to-rent communities throughout Northwest Arkansas. Through its affiliated entities, including Brittenum Residential, Brittenum Construction, and Precision Sitework, the firm provides comprehensive in-house capabilities spanning development, construction management, sitework, and project delivery. The Brittenum Group has established a strong presence throughout the Northwest Arkansas market with communities located across Bentonville, Fayetteville, Rogers, Springdale, Prairie Grove, and surrounding submarkets. The firm is led by Chief Executive Officer Jon Brittenum Jr, an experienced developer with over 30 years of industry expertise across land development, construction, and strategic growth. For more information, please visit www.brittenumresidential.com
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services, with offices throughout the United States and Canada. Marcus & Millichap closed 8,818 transactions with a sales volume of $50.8 billion in 2025. At year-end, the company had 1,808 investment sales and financing professionals in more than 80 offices providing investment brokerage and financing services to commercial real estate sellers and buyers. For additional information, visit www.MarcusMillichap.com.
Build-to-rent describes housing developments constructed specifically to be rented out and owned by a single investor or management company rather than sold as individual units. Think of it like a landlord building an entire apartment neighborhood to lease long-term: it matters to investors because it offers predictable rental income, professional management, and scale benefits that can reduce operating costs and vacancy risk, while being sensitive to interest rates, local demand, and housing policy.
nonrecourse financingfinancial
A loan or debt where the lender’s only remedy if the borrower defaults is to seize the specified collateral, not to pursue the borrower’s other assets or personal income. Investors care because nonrecourse financing limits the borrower's downside and shifts more risk to the lender and collateral value, much like a mortgage on a single property where the lender can take the house but cannot claim the borrower’s other possessions.
rent rollfinancial
A rent roll is a detailed record a property owner or manager keeps that lists each rental unit, the tenant occupying it, current rent amount, lease start and end dates, security deposits, and any additional recurring charges or concessions. For investors it acts like an income map—similar to a payroll for a building—showing current cash flow, occupancy, lease expirations and potential turnover risks so buyers and lenders can evaluate revenue stability and future earnings.
mezzanine financingfinancial
Mezzanine financing is a hybrid form of capital that sits between a company’s senior loan and its ownership, typically structured as a subordinated loan or convertible instrument that pays higher interest and may include rights to convert into equity. Think of it like a second mortgage or a booster seat: it carries more risk than the main loan but is less permanent than selling shares. It matters to investors because it can boost returns for lenders, increase a company’s debt burden, and potentially dilute equity if converted, influencing risk and reward.
