PHOENIX, AZ – Investment management firm Blue Vista Capital Management has acquired land parcels outside of Phoenix, AZ to develop two build-to-rent communities, representing $102 million in total capitalized value.
The two class A projects, located in Litchfield Park, AZ and Goodyear, AZ will comprise more than 300 homes, totaling 265,028 square feet, upon completion. The developments will feature secure private gated entrances, private outdoor space, resort-style pools, clubhouses and outdoor lounge areas with grills. The homes will offer simulated wooden flooring, quartz countertops, stainless steel appliances, in-unit washers and dryers and nine-foot to 10-foot ceilings.
The transaction aligns with Blue Vista's strategy to provide institutional investors with access to unique and differentiated core plus residential opportunities.
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Ingrid Tunberg
Ingrid Tunberg sits on the editorial team as a coordinator and reporter for Real Estate Forum and GlobeSt.com. She is responsible for writing stories, assisting with industry awards and marketing nomination events. Previously, Ingrid worked as a copywriter across various industries throughout New York City and Chicago.
