Atlanta build-to-rent developer Trilogy Investment Co. and Seed Capital Investments acquired local homebuilder Blue River Communities for an undisclosed amount. 

Trilogy in turn integrated Blue River into its new homebuilding unit, Rêve Homes, which will focus on the single-family residential market, building detached homes and townhomes priced from the $300,000s to $600,000s. 

With the acquisition, Rêve now has seven communities totaling over 700 lots under development, with projects in Clarke, Cobb, Bartow and Henry counties in the Atlanta metro region, as well as Huntsville, Alabama, and Tallahassee, Florida. 

Former Blue River CEO Greg Duriez will serve as the CEO, president and partner of Rêve Homes, which will have first access to newly approved and developed communities in Trilogy’s land pipeline. 

“The integration of [Blue River] into our Rêve Homes brand marks a significant milestone in [Trilogy]’s broader strategy to deliver homes that meet the evolving needs of today’s buyers and renters,” Trilogy Partner and CEO Jason Joseph said in a press release. “The vertical integration creates an amazing opportunity to control the quality of our homes while reducing redundant costs across each development. What were once not viable investments now become opportunities to engage, create and move our developments forward in a meaningful way.” 

“It’s an opportune moment to leverage my experience and contribute to a company with an upward growth trajectory,” Duriez said. “[Trilogy] has proven to be a major player in BTR and land development. Rêve Homes is the natural next step in the company’s evolution, and I am excited to be a part of the story.”   

Trilogy owns or is under contract for additional sites in Charlotte, Raleigh and Asheville, North Carolina; North Atlanta and Savannah, Georgia; Tampa and Orlando, Florida; and Dallas-Fort Worth.