Publications

GTIS Partners closes on third build-to-rent project in Phoenix
Transactions - JANUARY 14, 2022

To read this full article you need to be subscribed to Newsline.

Sign in Sign up for a FREE subscription

GTIS Partners closes on third build-to-rent project in Phoenix

by Released

GTIS Partners has closed on Cotton Lane, a 13-acre site fully approved for 144 build-to-rent units, located in Glendale, Ariz.

The project will be developed in-house by GTIS with Sonoma Communities, a Phoenix based developer, serving as the project's co-developer. The project is estimated to have a budget of about $43 million.

The site is along the 303-corridor which, along with the adjacent city of Goodyear, has emerged as Phoenix's fastest growing commercial/industrial hub. An estimated 20 million square feet  of industrial and office space is expected to be delivered during the next few years, generating an estimated 21,000 new jobs. At the state level, according to the Arizona Governor's office, an estimated 700,000 new jobs will be created by 2030.

The project will feature one- and two-bedroom single-story rental homes with resort-style amenities, including a resident clubhouse and leasing center, pool, fitness center, large central park and walking trails

Forgot your username or password?