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Christopher Todd Capital purchases Arizona BTR community for $57m
Transactions - APRIL 30, 2024

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Christopher Todd Capital purchases Arizona BTR community for $57m

by Denise Moose

Christopher Todd Capital has completed its first purchase of a newly completed, build-to-rent (BTR) community in Avondale, Ariz., part of the Phoenix metro. The company, with offices in Arizona and Florida, purchased the community for approximately $57 million, which is well below what it would cost to build from the ground up today. The class-A, fully amenitized community includes 217 one- and two-bedroom homes. It is adjacent to the City’s 90-acre Friendship Park. The seller is WS Avondale 1, LLC.

Each home in the Cottages at McDowell has smart home technology, including doorbell camera and motion sensor, smart thermostat, water heater moisture sensor, one GB internet, USB ports and streaming service. Pet doors allow easy access for pets to enjoy the private, maintenance-free backyard. The community amenities include green belts, two resort-style pools, 24-hour fitness center and direct access to Friendship Park, a robust City park that offers ballfields, walking paths, a

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