Valley Build-to-Rent Hybrids are Capturing the Eye of Lenders

By Angela Gonzales | Phoenix Business Journal As the build-to-rent niche continues to become more popular with renters, homebuilders and investors, it’s also catching the eye of lenders. These unique build-to-rent (BTR) products feature detached, single-family homes in a rental community loaded with amenities, including clubhouses, resort-style pools and dog parks. Scottsdale-based Tower Capital, which …

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July Homebuilding Permits Take Dip as Valley Market Cools

By Angela Gonzales | Phoenix Business Journal Single-family homebuilding permits in July dipped a bit compared with July 2020, an indication the Valley’s housing market cooled a bit over the summer. Nonetheless, overall permits are up 32% year to date through July, with some Phoenix metro cities seeing triple-digit percentage increases. Between January and July, …

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iRenting Model Guarantees Phoenix Landlords Rent for Two Years

By Angela Gonzales | Phoenix Business Journal A new iRenting model based on the iBuyer model is making its Phoenix debut. Called Nomad, the Denver-based company gives individual landlords a guaranteed rent offer on their property and takes on the heavy lifting of tenant placement and management. PJ O’Neil, a former Opendoor executive and co-founder …

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Scottsdale-Based Company Enters Into Build-to-Rent Joint Venture

By Angela Gonzales | Phoenix Business Journal Two firms that are entering the build-to-rent sector have formed a joint venture to build several projects together. Scottsdale-based Walton Global Holdings USA and Phoenix-based SVN | SFR Capital Management plan to build and operate these communities nationwide. These homes will be built within Walton Global Holdings’ existing …

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Developer with Offices in Scottsdale Building Luxury Rentals in Mexico

By Angela Gonzales | Phoenix Business Journal A Spanish developer with offices in Scottsdale is building a luxury vacation rental community in Rocky Point. The 31-unit condo property called Eagle Village at Islas Del Mar is a project of Adlanto, an asset management company with offices in Spain, Argentina, Mexico and in Arizona. The company …

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Ohio Couple Camps Out in Airbnb While Waiting for a Phoenix Home

By Angela Gonzales | Phoenix Business Journal The Phoenix housing market is crazy hot right now — just ask an Ohio couple currently camping out in an Airbnb as they lose bid after bid on their dream home. In May, when the couple arrived in Phoenix to look for a home and find new jobs, …

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Scottsdale Real Estate Investor Goes Big in Build-to-Rent Market

By Angela Gonzales | Phoenix Business Journal A Scottsdale-based international real estate asset management company that owns 81,000 acres nationwide is making a big play for the wildly popular build-to-rent home market. Walton Global Holdings — which last year moved its headquarters to Scottsdale from Calgary, Canada, where it was founded more than 40 years …

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‘Get Your Nest’ Home Buying App Launches in Scottsdale

By Angela Gonzales | Phoenix Business Journal The Valley’s hot housing market is creating a buzz among residential real estate brokers, and more brokerages are expanding to metro Phoenix as a result. New York-based Real Brokerage inc. and Virginia-based Nest Realty are among those setting up shop in the Valley, while a local brokerage called …

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Phoenix Home Price Growth Tops the Nation at 20%

By Angela Gonzales | Phoenix Business Journal Phoenix home price growth reached a whopping 20% in March, leading the nation for the 22nd consecutive month, according to the latest results of the S&P CoreLogic Case-Shiller Indices. With the national average now 13.2%, San Diego came in second, with a year-over-year price gain of 19.1%, followed …

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Joint Venture Investing in Metro Phoenix Single-Family Rentals

By Angela Gonzales | Phoenix Business Journal Two out-of-state real estate firms formed a $1 billion joint venture to acquire and renovate single-family rental homes across the western United States, with big plans for Arizona. Denver-based Atlas Real Estate and San Francisco-based DivcoWest are targeting high-growth states, including Arizona, Colorado, Idaho, Nevada and Utah. Vincent …

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