Capital Square, a sponsor of tax-advantaged real estate investments and developer of housing communities, has launched Capital Square Glendale BFR LLC with the goal of raising approximately $49 million in equity to develop a 320-unit, build-for-rent (BFR) single-family housing community in the Phoenix suburb of Glendale, Arizona.
Capital Square has partnered with Sunstone Two Tree as co-developer of the project, which will be based in a 29-acre parcel and include a mix of 102 detached villas with three- and four-bedroom units averaging 1,655 square feet and 218 townhomes with two- and three-bedroom units averaging 1,257 square feet. Property amenities will include a pool, spa, fitness center, pickleball courts, grilling pavilion, pocket parks, a dog run and a playground.
“Capital Square Glendale BFR is the next in a line of LLC offerings for investors seeking superior risk-adjusted returns from a real estate investment,” said Louis Rogers, founder and co-CEO of Capital Square. “This is an exciting opportunity to invest in a high growth Southwest market with an experienced team of developers who are addressing the housing shortage by building much-needed single family homes for rent.”
