JEN Partners, an affiliate of Curve Development, has recently sold a 64-unit build-to-rent community in Goodyear for $25.6 million to Sun Life Assurance Co. of Canada. This marks the developer’s second successful sale in the Phoenix market within a year.
The property, known as Cyrene at Estrella and completed in 2022, offers three- and four-bedroom floorplans ranging from 1,250 to 1,589 square feet. Amenities include a dog park, barbecue area and playground.
According to recent data from Yardi Matrix’s Phoenix report , the single-family rental market has experienced some cooling off with rents declining by 2.5 percent year-over-year as of July and occupancy dropping by 1.1 percent.
This latest transaction demonstrates continued interest in BTR communities despite current market conditions.
