Capital Square, Sunstone Two Tree Begin Constructing $49 Million Build-to-Rent Complex Near Phoenix

by Channing Hamilton

GLENDALE, ARIZ. — Capital Square and Sunstone Two Tree have broken ground on Ironwood Homes at Rosefield, a new build-for-rent community in the Phoenix suburb of Glendale. The 320-unit complex will be situated on a 29-acre lot at the southeast corner of Northern Parkway and N. Sarival Avenue. The partnership acquired the lot in September. Capital Square Glendale BFR is currently raising $49 million in equity from accredited investors for the complex’s development.

Ironwood Homes at Rosefield will offer 102 detached single-family homes, as well as 218 townhomes. Units will feature direct garage access and private yards. Planned amenities include a pool, spa, fitness center, parks, BBQs, gated entry and sports courts. The developers expect the project to open in the summer of 2025.

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