
CenterSquare has acquired Bentley Village, a 102-unit build-to-rent townhome community in Lake Elmo in the eastern suburbs of Minneapolis, Minnesota.
The property’s location features direct I-94 access and proximity to a robust retail hub that includes popular tenants like Whole Foods and Trader Joe’s. The property is under construction by one of the largest national home builders in the country. Completed homes will be acquired in phased takedowns, mirroring development progress, with the initial 16 homes already acquired and the final deliveries expected by March 2024.
Bentley Village offers spacious 3- and 4-bedroom floor plans, providing nearly 1,900 square feet of living space. These designs feature 2-car attached garages and inviting outdoor patios. Interiors showcase Class A finishes, including slate appliances, quartz countertops, undermount stainless steel kitchen sinks, and LVP flooring. In a region characterized by limited supply, these homes offer a distinctive and sought-after choice, addressing the shortage of high-quality and affordable housing options.
“The build-to-rent single-family rental market is perfectly positioned to meet the growing demands of modern households seeking spacious, contemporary living in vibrant neighborhoods, without the burden of homeownership,” stated Chris Picyk, Senior Vice President of Private Real Estate at CenterSquare.