Crescent Communities and Heitman Expand HARMON Brand With New $340M Build-to-Rent Joint Venture

Crescent Communities and Heitman expand their HARMON brand with a new $340M joint venture targeting six single-family rental communities across the Sun Belt and Colorado.

By: AXL Media

Published: Mar 12, 2026, 5:55 AM EDT

Source: https://www.multihousingnews.com/

Strategic Expansion Across Sun Belt and Emerging Markets

The second JV will focus on high-growth regions including Arizona, Florida, Georgia, North Carolina, Tennessee, Texas, and a new expansion into the Colorado market. This geographic strategy leverages strong demographic shifts and the ongoing affordability gap in homeownership. The HARMON brand aims to provide the privacy and space of a single-family home with the professional management and amenity-rich lifestyle typically associated with luxury apartments.

Progress of the Initial $345M Collaborative Effort

The partners' first joint venture, established in May 2024, is already yielding results with several key projects nearing completion and initial openings:

HARMON Cedar Run (Atlanta, GA): Recently opened its first rental homes, featuring 151 units in Lawrenceville.

HARMON Ascend (Phoenix, AZ): Currently in the development pipeline for the Southwest market.