JLL Capital Markets announced that it has secured capital for Nexmetro Communities for a build-to-rent portfolio across Phoenix and Denver.
JLL represented the sponsor, NexMetro Communities on recapitalizing the portfolio which was valued at approximately $300 million. The financing structure includes $160 million in insurance capital invested and managed by Blackstone, plus a preferred equity investment from Artemis Real Estate Partners.
The four assets included in the portfolio are Avilla Gateway, Avilla Magnolia, Avilla Eastlake and Avilla Canyon. These communities are strategically located in high-growth submarkets of Phoenix and Denver, offering residents a unique blend of single-family home living with the flexibility of a rental.
Completed between 2021 and 2023, these class A built-to-rent communities feature detached, single-story homes with private backyards, high-end finishes and resort-style community amenities. The average unit size across the port
