Source: Phoenix Business Journal
Pillsbury represented Christopher Todd Communities in an exclusive strategic partnership deal with Taylor Morrison Home Corp. to build hybrid rental products for the single-family rental market across the country.
The strategic partnership will serve customers who seek maintenance-free living, according to Taylor Morrison. The partnership will help grow the concept generally and the Christopher Todd Communities brand specifically as rental demand remains strong across the country.
The planned new residences are a hybrid between an apartment unit and a single-family home. They typically are single-story, detached, with a small backyard patio. They include amenities such as a pool and fitness center as well as advanced smart home technology. Every community will share a common look and feel tied to the branding for Christopher Todd Communities, including its already well-recognized Adirondack chairs.
As part of the new partnership, Taylor Morrison will buy the land, develop and build the units, while Christopher Todd Communities will handle the build-to-rent playbook, community design and property management oversight.
Before partnering with Taylor Morrison, the Business Journal reported that Christopher Todd Communities had been on an aggressive growth path, investing more than $230 million to build seven of its hybrid rental home communities this year, with an eye toward expansion outside Arizona. The deal with Taylor Morrison will help the company accelerate that national expansion.
The Pillsbury team representing CTC included partners Christian Salaman and Eric Kremer in San Diego, attorney Patrick Klingborg in San Diego, and partner Dana Newman in Los Angeles.
Considering the vision of Christopher Todd Communities to build “A New Way To Live®” and all the issues that arise with an innovative business plan, Christopher Todd Communities chose Pillsbury due to its general interdisciplinary approach and its specific hospitality experience.