Capital Square launches LLC offering to fund development of single-family build-for-rent community near Phoenix
Capital Square announced the launch of Capital Square Glendale BFR. The LLC offering has been formed to raise approximately $49 million in equity from accredited investors to develop a 320-unit, build-for-rent single-family housing community in the Phoenix suburb of Glendale, Ariz. Capital Square has partnered with Sunstone Two Tree as co-developer of the project.
"Capital Square Glendale BFR is the next in a line of LLC offerings for investors seeking superior risk-adjusted returns from a real estate investment," said Louis Rogers, founder and co-chief executive officer at Capital Square. "This is an exciting opportunity to invest in a high-growth Southwest market with an experienced team of developers who are addressing the housing shortage by building much-needed single-family homes for rent."
Located along Loop 303, the 29-acre development will include a mix of 102 detached villas with three- and four-bedroom units averaging 1,655 square feet, and 218 townhom