X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

NexMetro Communities has secured construction financing for two new projects. The two mezzanine construction loans total $24.3 million, and will be used to fund projects in Denver and Phoenix.

The two projects are innovative for-rent communities that serve as a hybrid between conventional garden-style apartments and amenitized single-family homes. Located in Peoria, Arizona, within metro Phoenix’s West Valley submarket, Avilla Lago is a gated community totaling 120 modern and stylish units with one-, two- and three-bedroom single-family rental home plans. Avilla Eastlake is located in Thornton, Colorado, and totals 244 equally styled single-family rental units, with one-, two- and three-bedroom home plans ranging from 638 to 1,289 square feet.

Kelsi Maree Borland

Kelsi Maree Borland is a freelance writer and editor living in Los Angeles whose work has appeared in such publications as Travel + Leisure, Angeleno and Los Angeles Magazine.

More from this author

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2019 ALM Media Properties, LLC. All Rights Reserved.