Residential
Peak Capital Partners Acquires 105-Unit Detroit-Area BTR Community from Highgate
By Real Estate Wire Staff, . Real Estate Wire.
Peak Capital Partners has acquired Stonehaven, a 105-unit single-family rental community in Shelby Township, Michigan, from Highgate Capital Group, Multi-Housing News reported exclusively, drawing on Yardi Matrix data. The property sits at 49135 E. Woods Drive, roughly 31 miles north of downtown Detroit, just off Highway 53.
The community was completed in 2013 and consists of seven two-story buildings spread across nine acres. Units are all two-bedroom layouts, with sizes running from approximately 1,240 to 1,545 square feet, and include walk-in closets, with some units offering private balconies or patios. Shared amenities include a dog park, playground, outdoor fire pit, grilling stations and garages.
Highgate Capital Group had held the asset since January 2022, when it purchased Stonehaven from Woodlake Homes. Multi-Housing News noted that Highgate funded that purchase using a Fannie Mae loan of $17 million, originated by Berkadia. No sale price for the current transaction was disclosed in the reporting.
For Peak Capital Partners, the deal extends a recent run of Midwest acquisitions. The firm, whose targets are Mountain West, Midwest and Sunbelt markets, also bought Momentum at First Creek, a 200-unit multifamily property in Denver, for $56 million earlier this year, a deal Multi-Housing News called among the largest multifamily transactions in that metro so far this year.
The Detroit-area market context matters here. Multi-Housing News reported that asking rents advertised across the Detroit metro's single-family rental segment climbed 1.8 percent from a year earlier, reaching $2,270 as of June, above national single-family rental rent growth of 1.5 percent in that same month, which the publication called the fastest pace since late 2025. Nationally, that growth still trails last year's 2.5 percent pace, suggesting the sector is stabilizing rather than accelerating.
For context, the U.S. Bureau of Labor Statistics reported that rent of a primary residence rose 2.7 percent year-over-year as of August 2026, a broader measure that includes apartments and other rental types. The gap between that figure and the 1.5 percent single-family rental growth rate points to continued softness specific to the single-family rental segment nationally, even as Midwest markets like Detroit hold up better than the Sun Belt metros that Multi-Housing News flagged as remaining comparatively weak.
The deal is a straightforward repositioning play on paper: a stabilized, decade-old community in a market where rents are firming faster than the national average, acquired by a buyer with an established Midwest presence. What the reporting does not establish is the purchase price, the cap rate, or whether Peak financed the acquisition and on what terms. Those figures would clarify how aggressively the buyer underwrote Detroit-area rent growth going forward. Investors tracking BTR deal flow in secondary Midwest markets will want to watch whether similar vintage assets in the region begin trading more actively as Sun Belt competition cools.
Source: https://www.multihousingnews.com/exclusive-highgate-sells-detroit-btr-community/