What Material Capital Partners does

Material Capital Partners (MCP) is a privately held real estate development and investment management firm headquartered in Charleston, South Carolina, founded in 2018. The firm focuses exclusively on single-family build-to-rent (BTR) communities in high-growth markets across the US Southeast and Midwest, developing purpose-built neighborhoods of detached homes and townhomes with attached garages, private patios, smart-home features, and Class A amenities, leased and managed through institutional operators such as Greystar. The company's stated mission is to develop, acquire, and aggregate a 5,000-unit BTR portfolio with over $1.5 billion of nominal value within 48 months; to date it has 8 named communities in its portfolio (82–240 units each) and its executive team has developed, built, and managed over 9,000 units historically.

MCP operates a vertically integrated platform anchored by a dedicated in-house construction partner, Winchester Commercial Group (founded by T.J. Washburn, $500M+ of single-family homes and 2,000+ units constructed across the Southeast). The firm deploys capital through dedicated BTR Development Fund I (now fully invested with Harmony at Clear Creek as the final deployment) and BTR Development Fund II (launched in July 2025 with Mill Landing as its first investment). Project financing is sourced from institutional capital partners including Bluerock (>$18B AUM), Stanton Road Capital (>$7B acquired), and an institutional construction lender. MCP has demonstrated a develop-and-exit model, completing The Preserve at Sweetwater (89 units) in August 2023 and selling it to a joint venture between MORE Residential and Stockbridge ($33.8B AUM) under the Covey Homes brand.

The firm is led by Founder and Managing Partner Alex Chalmers (MIT Real Estate Development, ex-Avenida Capital/Jefferies), supported by CFO Wilfredo Rodriguez (CPA, ex-PwC and AshmoreAVENADA), Managing Director Khrista Villegas (25+ years multifamily, ex-Greystar/KMC), Operating Partner T.J. Washburn (Winchester Commercial Group), and four directors covering development, acquisitions, and investments/innovation. Revenue is generated through development fees, asset management fees, and potential carried interest on investment funds; specific revenue figures are not publicly disclosed. End customers are individual renters-by-choice (young adults, families, military, empty-nesters) served through Greystar-managed leasing, while institutional investors and joint venture partners serve as capital partners across the fund structure.

Name

Material Capital Partners

Legal name

Material Capital Partners LLC

Website

https://materialcapitalpartners.com

Company type

Private

Founded year

2018

Operating status

Operating

Headcount range

1–10 employees

Short description

Material Capital Partners is a Charleston, SC-based real estate development and investment management firm that develops and funds single-family build-to-rent communities in high-growth Southeast and Midwest US markets, serving institutional capital partners and individual renters through dedicated investment funds and institutional property management.

Ownership category

akta.pro rank

Product category

Build-to-Rent Real Estate Development

NAICS

Other Investment Pools and Funds (5259)

SIC

Investors, Nec (6799), Operative Builders (1531)

akta.pro primary industry

Real Estate Funds — Opportunistic / Development (FSANAEAI)

Keywords

• Build-to-rent development
• Real estate investment management
• Single-family rental communities
• Real estate development firm
• Institutional real estate funds

Headquarters

HQ city

Charleston

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Supply Chain, Operations, Personnel, Infrastructure, Marketing or Sales, Technology or R&D

Revenue model

1. Development and Investment Management: MCP generates revenue through developing build-to-rent communities and managing investment funds. The firm develops communities from land acquisition through construction, then either holds, sells to institutional buyers, or maintains investment stakes. Revenue comes from development fees, asset management fees, and potential carried interest from investment funds.
2. Real Estate Investment Returns: MCP invests its own capital alongside institutional investors in BTR development funds, generating returns through community exits to institutional buyers and ongoing portfolio appreciation.

Go-to-market motion2 records

Distribution channels2 records

Marketing channels4 records

Core offering

Material Capital Partners is a data-driven real estate development and investment management firm that develops, acquires and operates single-family build-to-rent (BTR) communities in high-growth Southeast and Midwest markets. The firm runs dedicated BTR Development Fund I and II vehicles that source land, partner with national home builders, build purpose-built rental communities of 80-240 units each, and exit stabilized assets to institutional buyers while co-investing its own capital alongside institutional limited partners. Revenue is generated through development fees, asset management fees, fund-level carried interest and investment returns from co-invested equity.

Product overview

Material Capital Partners is a data-driven real estate development and investment management firm focused on single-family build-to-rent (BTR) communities. The company's portfolio consists of named communities across the Southeast and Midwest, including Water Walk, Mill Landing, Harmony at Clear Creek, River Ford, Highland Springs, Indigo Cove, The Preserve at Ridgeville, and The Preserve at Sweetwater. These communities combine purpose-built neighborhoods of single-family rental homes with premium amenities and professional property management. The portfolio ranges from 82 to 240 units per community, with projects varying from pre-development through completed/sold status.

Differentiator

Problem solved

Functional benefit

Products and services

• Water Walk A 142-unit build-to-rent community in Columbia, South Carolina currently in pre-development stage. Targeted at renters-by-choice seeking single-family rental living in a professionally managed community.
• Mill Landing A 163-unit build-to-rent community in Greer (Spartanburg), South Carolina with single-family detached homes and townhomes featuring attached garages, private patios, and premium finishes including granite countertops and stainless-steel appliances. First investment from MCP's BTR Development Fund II.
• Harmony at Clear Creek A 188-unit build-to-rent community in Shawnee, Kansas representing MCP's first Midwest project and the final investment from BTR Development Fund I. 188 single-family rental homes with attached garages and Class A amenities.
• River Ford A 170-unit build-to-rent community in Brunswick, Georgia featuring detached single-family homes with clubhouse, resort-style pool, fishing docks, bark park, and trail system, professionally managed by Greystar.
• Highland Springs A 131-unit build-to-rent community in Augusta, Georgia with development start in October 2024.
• Indigo Cove An 82-townhome build-to-rent community in Bluffton, South Carolina featuring 3-bedroom upscale townhomes with quartz countertops, stainless steel appliances, built-in home office nooks, and community amenities including bark park, nature trails, and clubhouse, professionally managed by Greystar.
• The Preserve at Ridgeville A 240-unit build-to-rent community in Ridgeville, South Carolina, completed in August 2022.
• The Preserve at Sweetwater An 89-unit build-to-rent community in North Augusta, South Carolina featuring townhomes with smart home features including smart locks, thermostats, and garage door openers. Completed and sold in August 2023 to a MORE Residential / Stockbridge joint venture.
• BTR Development Fund I MCP's first dedicated build-to-rent investment fund vehicle, used to finance the development of BTR communities including Indigo Cove, River Ford and Harmony at Clear Creek, with project-level debt provided by Bluerock, Stanton Road Capital and MCP's institutional construction lender.
• BTR Development Fund II MCP's second dedicated build-to-rent investment fund vehicle, with Mill Landing (163 units, Greer, South Carolina) as the first investment in July 2025.
• BTR Investment & Asset Management Services Investment management services for institutional capital partners covering the acquisition of existing build-to-rent communities and partnering with regional and national home builders to purchase standalone sites or sections within master-planned projects for conversion into dedicated rental communities.

Quantifiable outcome

• Projected 5% rent growth in 2025 for BTR communities
• +2 more outcomes

Named customers2 records

Segments2 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Two partnerships are on record, tiered core.

• GreystarcoreChannel Partner/ Reseller/ Distributor · 11 December 2024Greystar, the global leader in residential property management, serves as property manager for River Ford, Indigo Cove, and Mill Landing communities. Greystar handles on-site leasing and maintenance operations for MCP's BTR communities.
• Winchester Commercial GroupcoreStrategic or Co-development Partner · 1 January 2009MCP's dedicated in-house homebuilding partner for build-for-rent projects in the Southeast. The MCP and WCG teams work closely together from site selection through predevelopment, design and vertical construction. WCG is an Augusta, GA based firm founded by T.J. Washburn that has constructed over $500 million of single-family homes representing over 2,000 units across the Southeast. The teams have a longstanding history of collaboration since 2009.

Scale indicators7 records

Recent moves8 records

Expansion highlights5 records

Direct peers

• Middleburg Communities: Direct BTR developer with comparable Southeast US focus. MCP's Director of Development Steve Farmartino was previously VP of Development at Middleburg Communities, where he managed 2,000+ BTR/multifamily units and $500M+ in project costs, making Middleburg the closest direct comparable in scale, geography, and product type.
• Pretium Partners: Major BTR-focused institutional investment firm managing single-family rental assets across the US. Pretium's build-to-rent development and acquisition strategy closely mirrors MCP's fund-based approach to BTR community aggregation, with comparable institutional LP base and Sun Belt geographic focus.
• Progress Residential: One of the largest US BTR operators managing thousands of single-family rental homes. Progress Residential serves the same renters-by-choice customer segment (families, young professionals) with professionally managed BTR homes, making it a direct comparable in product offering and target customer.
• Vinebrook Homes: BTR operator aggregating thousands of single-family rental homes across Midwest and Southeast markets. Comparable geographic focus, renters-by-choice customer segment, and BTR community development approach, though at larger scale than MCP's current portfolio.

Broad incumbents

• American Homes 4 Rent: Public BTR/SFR REIT (NYSE: AMH) with approximately 60,000 single-family rental homes. Operates broadly in the same BTR/SFR asset class and renters-by-choice customer segment, but at materially larger scale than MCP with public market capital access.
• Invitation Homes: Largest US single-family rental operator (NYSE: INVH) with 80,000+ homes across the country. Broad incumbent in the same SFR/BTR asset class serving similar renters-by-choice customer segment, with much greater scale and balance sheet capacity than MCP.
• Amherst Holdings: Major institutional SFR/BTR investment platform with $20B+ AUM. Amherst's single-family rental acquisition, development, and asset management platform overlaps with MCP's institutional BTR investor base and operating model, though at significantly larger scale.
• D.R. Horton: Largest US homebuilder (NYSE: DHI) with a dedicated BTR division through Forestar (real estate lot acquisition). D.R. Horton is both a potential homebuilder partner and competitive threat as it increasingly builds and holds BTR product in-house, directly competing with MCP's BTR development model.
• Lennar: Second-largest US homebuilder (NYSE: LEN) with a dedicated BTR platform through Millrose Properties. Lennar is both a potential homebuilder partner for MCP's BTR joint ventures and a competitive incumbent, as it has institutionalized BTR development and operates at materially larger scale.

Emerging players

• Roofstock: BTR/SFR investment marketplace and operator connecting institutional capital with single-family rental assets. While Roofstock focuses more on existing-home BTR aggregation than ground-up development, it serves overlapping institutional investor customers and increasingly competes for BTR deal flow in similar Sun Belt markets.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/material-capital-partners

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Funding overview

Funding rounds2 records

Investors3 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Material Capital Partners