Guelph, ON – Guelph-based Reid’s Heritage Properties (RHP) today announced its new partnership with Pentagon Holdings of Nashville, TN, providing a springboard for the company to expand its rental housing building expertise into one of the hottest real estate markets in the Southeastern U.S.
In Ontario, RHP specializes in building new, modern rental accommodations, often in communities experiencing historically low vacancy rates. Much of its expertise is in the “purpose-built” segment, such as senior living or student housing, but even its broad-based projects focus on developing tight-knit communities with ample on-site amenities.
“We’re excited to be able to work with Pentagon Holdings to explore rental construction opportunities in a new market,” said Scott Reid, president of Reid’s Heritage Properties. “Nashville is an iconic American city with so much growth potential,” pointing to a recent U-Haul report showing that more people moved to Tennessee than any other U.S. state last year.
A full-service, family-based firm, RHP manages any or all parts of the building cycle: acquiring land, building rental housing, marketing, delivering completed facilities, leasing buildings, and managing properties.
Itself well established as a full-service builder/development; Pentagon Holdings provides the critical local market intelligence within the new partnership. According to Pentagon Holdings’ CEO Blake Seeberger, RHP’s model is perfectly suited for the Nashville market. “Rental vacancy rates aren’t quite as tight as they are in Ontario,” says Seeberger, “but forecasts show ongoing strong demand, particularly with new investment from major companies such as Amazon.”
Both companies excel in working with like-minded investors and stakeholder groups to develop solutions-oriented product with steady, reliable financial yield. Having known each other for over 10 years, one of Reid’s and Seeberger’s first collaborations involved a Net-Zero pilot project with Natural Resources Canada and Owens-Corning.
The partnership’s initial focus will be on sourcing land for low-rise rental buildings in Nashville’s neighbourhood, as well as single family rental homes. Mid-rise opportunities are envisioned in the future.
For further information, please contact:
President, Reid’s Heritage Properties
CEO, Pentagon Holdings
About Reid’s Heritage Properties
Based in Guelph, Ontario, Reid’s Heritage Properties identifies and develops income producing properties that improve the lives of those who call them home and provide a safe and reliable investment for our partners. Our building expertise covers the full range of accommodations, from single detached homes and mid-rise condos to custom estates and more. Projects are carefully vetted for market need, with an emphasis on “purpose-built” solutions – developments that address specific community needs. The company is currently developing eight buildings/communities across Southern Ontario representing over 1,000 rental units.
About Pentagon Holdings
Pentagon Holdings is a full-service builder/developer engaged in land acquisition, land development and vertical construction in build-to-rent and for-sale communities. With over 30 years’ experience in financial and project management for large scale master planned communities as well as single site and in-fill projects, Pentagon Holdings brings together a dedicated team of office, field, land, and real estate professionals specializing in the Nashville MSA.