Sunstone Two Tree, a developer and operator of rental housing communities in high-growth markets across the United States, announced updates across its Phoenix build-to-rent (BTR) portfolio. In addition to its existing portfolio of BTR developments in the area, the company is now delivering homes across three new communities in Phoenix. Upon full delivery, they will total more than 550 new rental homes. In addition to delivering new homes, the company has closed on a new 20.86-acre lot in Buckeye where it will build a 238-unit BTR community. Finally, it has broken ground on a BTR development in Mesa.
“It is no secret that over the past several years, the Phoenix MSA has seen elevated rental housing deliveries, which has weighed on operating fundamentals,” said Scott Maddux, CEO at Sunstone Two Tree. “In the midst of this challenging dynamic, we have always felt like the market was underserved for rental product that caters to the growing millennial generation, which has
