Four Corners Development Group has acquired its third built-to-rent property from D.R. Horton in the past six months. The latest purchase is The Oaks at Grand West Apartments, a 147-unit rental home community located at 10415 Lancaster Forest Lane in Houston. The firm paid $36 million for the 290,000-square-foot development, which was completed in 2024. This price equates to approximately $245,000 per unit.
Financing for this acquisition was arranged by Polaris Funding, a mortgage brokerage based in Lakewood, New Jersey. Nate Hyman, founder of Polaris, secured a $25.2 million loan from Encore Finance Group for the transaction.
“This went very [smoothly] and had a closing period of under 60 days because of Polaris’ relationship with the lender and the understanding we have for the BTR space,” Hyman said in an email.
Hyman also organized financing for Four Corners’ earlier purchase of two built-to-rent communities in Slidell, Louisiana. That deal totaled $55.2 million for 248 units, averaging about $222,400 per unit.
The Oaks at Grand West Apartments offers three- and four-bedroom homes ranging from 1,800 to 2,000 square feet. Each unit includes laundry facilities, a two-car garage, covered patio and fenced-in backyard. Shared amenities include a dog park and playground. Rents start at around $2,400 per month.
Built-to-rent properties became more popular during the pandemic as remote work increased demand for larger living spaces with single-family home features. These developments provide an alternative to apartment living for those unable or unwilling to buy due to high prices or interest rates since 2022.
Texas has seen significant growth in this sector; nearly 22,000 built-to-rent units were planned statewide at the beginning of 2025—the highest number among all states according to Point2Homes data. Houston ranked fifth among U.S. cities with over 4,600 such units under construction early last year.
