Cardinal Group Expands into Build-to-Rent Market, Redefining Residential Living

DENVER, CO – June 4, 2024—Cardinal Group Management (“Cardinal”), a Denver-based housing industry leader in student, conventional, and affordable housing property management, is redefining the Build-to-Rent (“BTR”) space by further managing single-family homes designed and built for rental purposes only.

With a proven track record in creating vibrant communities and enhancing resident living experiences and over 10 years of experience in the student housing industry, Cardinal is well-positioned to create a custom management solution by bringing innovative solutions to the Build-to-Rent space. This strategic move reflects Cardinal Group’s commitment to innovation and meeting the evolving housing needs in today’s dynamic market.

BTR is a rapidly growing segment within the real estate industry. It provides alternatives for individuals who may not be able to purchase a house but desire living arrangements without shared walls. Additionally, it offers the opportunity to explore new submarkets before committing to homeownership, all while ensuring high-quality rental housing and professional management services.

The BTR market requires a specific strategy to address the opportunity. Cardinal, a seasoned operator bringing in new products and creating an unparalleled experience, draws the synergies between student housing and the BTR product type.

Community Building: Student and BTR housing significantly emphasize cultivating community among residents. In student housing, this usually involves study areas, common rooms, and social interactions. In BTR, it is all about prioritizing shared community spaces and organizing events to encourage residents to connect and engage with one another. In both product types, Cardinal embraces the resident experience to foster moments of connection among all community members.

Amenities and Services: Both types of housing offer a wide range of amenities and services to enhance residents’ quality of life and experience. Apartments and student housing boast a broader array of amenities compared to BTR residences. BTR units often feature community amenities like playgrounds or park spaces, pools, fitness centers, clubhouses, and other on-site services. Notably, in-unit laundry is a prominent feature in BTR communities.

Convenience and Accessibility: BTR communities are typically situated in areas with a lot of available land, often on the outskirts of larger cities. Communities are often located near access to major highways or connecting roads that provide a neighborhood living feeling while still being closely located to retail shopping centers with close communities to major cities. The strategic location of BTR communities aims to simplify daily life and elevate the overall living experience while offering individual homes instead of traditional apartment-style living.

Flexible Lease Options and Professional Management: By offering flexible lease options and the professional management of communities’ day-to-day operations, maintenance, and resident services, Cardinal ensures that residents promptly receive assistance, maintain a high quality of living, and access resources and support whenever needed.

As early industry leaders in centralized services, Cardinal invested in building a centralized operations platform, CX3, focused on the needs of Cardinal clients, community residents, and Cardinal team members. The CX3 platform improves overall operating expenses by reducing costs without sacrificing efficiency and improving resident services by allowing on-site staff time to focus on the resident experience instead of high-burden administrative tasks. The robust CX3 platform is easily accessible in BTR operations, providing a team of experienced professionals with a deep understanding of operating procedures and asset management to continue to drive community operations through remote services for rent collection and lead nurturing.

Cardinal’s expansion into the Build-to-Rent (BTR) management space also marks an exciting opportunity for experienced onsite team members to broaden their horizons beyond traditional college markets and venture into larger Metropolitan Statistical Area (MSA) cities. This strategic move not only facilitates the professional development and growth of Cardinal’s team but also signifies a commitment to adapting and thriving in diverse urban environments. By leveraging the expertise gained from student housing, these team members can apply their skills and insights to navigate the complexities of larger MSAs, contributing to Cardinal’s continued success in delivering exceptional resident experiences and fostering thriving communities.

“I began my journey with Cardinal in Student Housing four years ago and recently transitioned to a new Build-to-Rent (BTR) portfolio. My experience in leasing and marketing initiatives seamlessly prepared me for the shift from Student Housing to BTR. Familiarity with tight deadlines to achieve occupancy targets became second nature.

BTR residences are tailor-made for residents, fostering a stronger connection between renter and landlord than other properties. This intimate environment reignites my passion for the job—it continually challenges me personally and professionally, driving growth,” says Natasha Nedved, Community Manager.

Cardinal’s expansion into the Build-to-Rent management sector represents more than just a strategic business move; it embodies Cardinal’s commitment to innovation and adaptability in the real estate industry. By leveraging synergies between student housing and BTR product types, Cardinal ensures seamless integration through centralized operations with CX3 and provides an experienced network of industry professionals ready to deliver exceptional resident experiences.

About Cardinal Group Companies

Cardinal Group Companies (“CGC”) is a fully integrated real estate management, investment, construction, development, and marketing firm focused on multifamily and student housing throughout the country. Headquartered in Denver, Colorado, CGC affiliate companies are all firmly built atop the company’s “Cardinal Culture.” Since 2007, CGC has been operating successful partnerships focused on creating efficiency and above-market performance via their commitment to challenging the status quo of the industry. To date, Cardinal Group Companies has developed several best-in-class initiatives, which have earned the company national recognition year after year. Cardinal Group Companies’ management platform oversees over 40,000 units nationwide, including 11,000 conventional and affordable housing units and over 90,000 student housing beds across the U.S., including Cardinal Group, Companies’ owned portfolio, and third-party managed properties.

To learn more about Cardinal Group Companies, please visit www.CardinalGroup.com.

Media Contact:

Cardinal Group
Ainsley Robinson
Email: Ainsley.Robinson@CardinalGroup.com