New York developer invests $100M for more build-to-rent East Valley homes

New York developer invests $100M for more build-to-rent East Valley homes

This article originally appeared in the Phoenix Business Journal.
A New York-based real estate private equity fund manager and developer is investing $100 million in the Valley’s rapidly growing build-to-rent market, in which detached single-family homes are constructed in a rental community with rich amenities.

GTIS Partners LP is developing a build-to-rent community in Queen Creek, paying $7.9 million for a 26-acre parcel on April 20. Phoenix-based Sonoma Communities is co-developing that project at the northeast corner of Riggs and Ellsworth roads. Read more…

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