The Trust owns Valley Ridge, a 129-home build-for-rent single-family community completed in 2023 by D.R. Horton in Rossville, Georgia (Chattanooga MSA), purchased for $37,603,500 while in initial lease-up (86.05% occupied at 9/9/2024). The whole property is master leased to a newly formed Sponsor affiliate that subleases homes to residents and keeps cash above Rent. Affiliates manage the property. The plan targets income from lease-up and rent growth, a sale of the whole community in about ten years, or an optional 721 UPREIT Contribution into a Sponsor-affiliated REIT with a cash buy-out.