140-unit Class A BTR community advances to lease-up under institutional management; Phase II launches early 2027
COLLIERVILLE, Tenn., May 26, 2026 — Forest Creek Partners, a family-office-backed real estate platform, today announced the $15 million recapitalization of Phase I at Villages at Forest Creek, a 140-unit Class A build-to-rent (BTR) community on the Germantown/Collierville border — two of Greater Memphis’s most affluent submarkets. The facility covers the 48 delivered units and supports lease-up; Phase II’s remaining 92 units break ground in early 2027.
SIP Ventures served as exclusive strategic advisor, building the institutional operating plan, onboarding a national property management firm, and leading the capital markets process. Genesis Capital provided the bridge facility.
Class A Asset, A+ Submarket
Villages at Forest Creek is the owners’ second Class A BTR community in the area, built to for-sale specification. The 140 three-bedroom, 2.5-bath townhomes average ~1,600 sq ft with attached garages, nine-foot ceilings, masonry façades, fully tiled baths, stainless appliances, luxury vinyl plank, and smart-home technology. The community offers a resort-style pool and clubhouse, with top-rated schools and major employment centers nearby.
Strong Renter & Capital Markets Demand
Lease-up is off to a strong start, consistent with Sun Belt trends where Class A BTR continues to outperform on absorption and rent growth. The SIP-led process drew competitive interest from multiple lenders before closing with Genesis on the most flexible terms.
“No comparable Class A rental product exists in this market,” said John Porter, principal at Forest Creek Partners. “Two A+ submarkets, top schools, demand that supports institutional rental economics long term.”
“Residents are validating the thesis — this area needed a true Class A townhome community, and renters will pay for quality,” added principal John Gallina.
“Forest Creek is what institutional BTR wants right now — Class A product, A+ location, for-sale build, credible sponsor,” said Sherzod Ibragimov, Managing Principal of SIP Ventures. “We wrapped institutional infrastructure around their expertise: operating plan, national PM partner, capital structure on their terms.”
About Forest Creek Partners Forest Creek Partners brings nearly a century of local homebuilding experience to Class A BTR in Greater Memphis.
About SIP Ventures Founded in 2025, SIP Ventures creates Class A+ BTR communities and partners with leading institutional allocators, developers, and homebuilders.
Contacts:
Forest Creek Partners
Wayne Sparks
SIP Ventures
Sherzod Ibragimov
SOURCE SIP Ventures
