GTIS Partners, a New York City-based real estate investment firm focusing on U.S. residential and industrial/logistics projects, has formally announced the launch of Tavalo, a dedicated build-to-rent community development company.
Tavalo, which operates as a subsidiary of GTIS, has already completed its first project with Tavalo at Cadence, a development in Mesa, Arizona, with 197 build-to-rent units, a fully equipped gym, a yoga studio, three resort-inspired pools and a spa. The company is at work on seven additional build-to-rent communities in the greater Phoenix area and South Florida, which will result in a total development of approximately 2,100 build-to-rent units.
“We are thrilled to announce the launch of Tavalo,” said Tom Shapiro, president and chief investment officer of GTIS. “The unique value of self-developing these build-to-rent projects is that we can bring our team’s collective expertise and research capabilities together to create and provide beautiful and thoughtful communities for renters across the U.S.”
Photo courtesy Sodello Construction