Valtus Capital Group and BRUIN Capital Partners have formed a team, Capro, to focus on working with apartment and home builders in the Southwest. This venture is being led with $100M of new cash equity capital, targeting to reach $500 million of assets under management for its first fund.
According to the Phoenix Business Journal, Capro’s plans call for starting in Arizona by purchasing 30 acres of vacant land in Buckeye and 40 acres in Casa Grande. These parcels are estimated at a cost of $400 million which will include 250 traditional garden-style apartments as well as 250 build-to-rent (BTR) detached single-story homes built across both sites over multiple phases; beginning with BTR units at the Casa Grande project site first.
Capro looks forward to providing 1,000 rental units within Arizona upon completion of their projects.
