Arizona

PCCP Provides $51.8M Refinancing Loan for Everly at Morrison Ranch in Metro Phoenix

by Lynn Peisner July 24, 2026

GILBERT, ARIZ. — PCCP has provided a $51.8 million senior loan to a joint venture between Phoenix Capital Management and P.B. Bell for the refinancing of Everly at Morrison Ranch in Gilbert. Located at 4353 E. Elliot Road, Everly at Morrison Ranch was built in 2025. The 236-unit community is 97 percent leased and is within Morrison Ranch, a master-planned neighborhood in Gilbert. Units are offered as one-, two- or three-bedroom floor plans complemented by amenities such as a resort-style pool and hot tub, private workspaces, electric vehicle charging stations, …

July 24, 2026

Arizona Development News Western

Crescent Communities Closes on Land for NOVEL Norterra in Northern Phoenix

by Lynn Peisner July 23, 2026

PHOENIX — Crescent Communities has acquired land and begun construction of NOVEL Norterra, a four-story property on an 8.5-acre site in northern Phoenix. The 248-unit development is part of the 600-acre Norterra mixed-use neighborhood. Amenities include a clubhouse, 1,822-square-foot pool and hot tub area with cabanas and fire features, a pickleball court, dog park, outdoor cooking, dining and gathering areas as well as pedestrian pathways. Development partners include NEC Capital Solutions Limited, Sumitomo Mitsui Trust Panasonic Finance Co., additional Japanese investment and UMB Financial Corp. First move-ins are estimated to …

July 23, 2026

Arizona Build-to-Rent Development News Operations Western

NexMetro Opens Avilla Foothills BTR Project in Metro Phoenix

by Lynn Peisner June 26, 2026

SURPRISE, ARIZ. — NexMetro Communities has completed and opened Avilla Foothills, a 108-unit build-to-rent development in Surprise, about 28 miles northwest of Phoenix. Avilla Foothills is comprised of single-level homes, some with optional garages, and amenities such as a resort-style pool and hot tub, outdoor kitchen and grills, landscaped open spaces, covered parking, a 24-hour maintenance team, pet parks and no breed or size restrictions for pets.

June 26, 2026

Arizona Investment Sales News Western

Nitya Capital Buys Tides on McDowell in Phoenix for $41M

by Lynn Peisner June 26, 2026

PHOENIX — Tides Equities has sold Tides on McDowell at 4620 W. McDowell Road in Phoenix to Nitya Capital for $41 million. Northmarq’s Phoenix-based team led by Jesse Hudson, Logan Baca and Chris Michl represented the Los Angeles-based seller. Nitya is headquartered in Houston. Built in 1985 and sitting on roughly 13 acres, Tides on McDowell features 27 two-story buildings with studio, one- and two-bedroom floor plans. The property features a mix of renovated, partially upgraded and original-condition units. Amenities include a pool, soccer field, playground, leasing office, fitness center, …

June 26, 2026

Arizona Investment Sales News Western

Wood Partners Sells Alta Rise in Gilbert, Arizona

by Lynn Peisner June 9, 2026

GILBERT, ARIZ. — Institutional Property Advisors (IPA) has arranged the sale of Alta Rise in North Gilbert, Arizona. IPA’s Steve Gebing and Cliff David represented the seller, Atlanta-based Wood Partners, which developed the property, opening it in 2025. IPA also procured the unnamed buyer. The 278-unit community is a four-building property with a fourth-floor lounge and deck. Additional amenities include a speakeasy, a lawn with yard games and a firepit, a multipurpose field, pickleball courts and a resort-style pool and hot tub. Apartments feature walk-in closets with built-in shelving, kitchens …

June 9, 2026

Arizona Build-to-Rent Development Investment Sales News Western

TBBG Completes Second Phoenix BTR Acquisition, Breaks Ground On Two Development Projects

by Lynn Peisner May 11, 2026

PHOENIX — Phoenix-based real estate investment firm TBBG Investments has completed one acquisition and broken ground on two build-to-rent (BTR) developments in the Phoenix metro area. In partnership with Denver-based Canopy Real Estate Partners, TBBG has acquired CJ Townhomes for approximately $13.4 million. The 36-unit community in Mesa, Arizona, will be rebranded as The Sonoran Townhomes. The development was completed in 2024 and includes three-bedroom townhomes with attached garages and private yards as well as such amenities as a pool and hot tub, a dog park, fitness center, resident lounge …

May 11, 2026

Arizona Build-to-Rent Development News Western

Rockefeller Group Opens First of Two Phoenix BTR Projects

by Lynn Peisner May 6, 2026

PHOENIX — Rockefeller Group’s Corsica Villas at 20th Street in South Phoenix is now complete, and residents have begun moving in. A sister community, Corsica Villas at Euclid & 7 Street, is expected to open later this summer. The two gated communities include 152 two-story townhomes. Corsica Villas at Euclid & 7th Street will offer 84 residences, including three-bedroom townhomes with covered reserved parking spaces, and two-bedroom carriage-style units with attached one-car garages. Residents at both communities will have access to amenities such as a heated pool and a hot …

May 6, 2026

Arizona Investment Sales News Western

IPA Arranges Sale of River Oaks in Tucson, Arizona

by Lynn Peisner May 5, 2026

TUCSON, ARIZ. — Institutional Property Advisors (IPA) has arranged the sale of River Oaks, a 300-unit property in Tucson. Neither the sales price, buyer nor seller were disclosed. IPA’s Clint Wadlund and Hamid Panahi represented the seller and procured the buyer. River Oaks is located in East Tucson on Broadway Boulevard. The property was developed on 10 acres in 1982. Units are offered as studio, one- and two-bedroom units. Amenities include a stand-alone clubhouse, two pools, a playground and three laundry facilities.

May 5, 2026

Arizona Investment Sales News Western

Thompson Thrift Sells Metro Phoenix BTR Development for $45.9M

by Lynn Peisner May 1, 2026

PEORIA, ARIZ. — Marcus & Millichap has arranged the $45.9 million sale of Grandstone at Sunrise, a 140-unit build-to-rent community in the northwest Phoenix suburb of Peoria. Terre Haute, Indiana-based Thompson Thrift was the seller, having developed the property in 2021. The Phoenix Business Journal reports the buyer to be MetLife Investment Management. The sales price equates to $327,500 per unit. Steve Gebing and Cliff David with Institutional Property Advisors, a division of Marcus & Millichap, represented Thompson Thrift in the transaction. Grandstone at Sunrise is comprised of 70 residential …

May 1, 2026

Arizona Development News Operations Western

Mill Creek Residential Pre-Leasing at Modera Chandler

by Lynn Peisner April 30, 2026

CHANDLER, ARIZ. — Mill Creek Residential has begun pre-leasing at Modera Chandler, a 345-unit property in Chandler that Mill Creek began developing in July 2024. Modera Chandler is comprised of one-, two- and three-bedroom homes, some with dens. Amenities include a resort-style pool with cabanas, a hot tub and sauna, grilling area, fire pit, outdoor dining, a clubroom with gathering space, landscaped courtyards, coworking space with private pods, a conference room, resident lounge with library, pet park, playground and a two-story fitness center. The community also features 24-hour digital self-serve …

April 30, 2026

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