TerraLane Communities, a premier developer of rental neighborhoods, has sold two of its build-for-rent assets, TerraLane at South Mountain and TerraLane at Canyon Trails (photo above), to Inland Real Estate Acquisitions.
Terms of the deal are not disclosed. The sale was facilitated by Northmarq.
Located in Phoenix and Goodyear, Ariz., respectively, the two communities comprise a total of 409 single-family rental homes across 32 acres.
“The sale of the South Mountain and Canyon Trails communities fulfills TerraLane’s mission of executing successfully in the build-for-rent sector,” said Steve La Terra, CEO of TerraLane Communities. “TerraLane is committed to creating technology-forward rental home communities that are well-located and accessible to regional employment, amenities and recreation. This monumental asset sale to Inland Real Estate allows TerraLane to take our platform to the next level by expanding into new markets with additional p
