NexMetro has successfully recapitalized a portfolio of four Build-to-Rent properties located in Phoenix and Denver. The sponsor, NexMetro Communities, was represented by JLL in this transaction which valued the portfolio at approximately $300 million. The financing structure includes an investment of $160 million from insurance capital managed by Blackstone, as well as preferred equity from Artemis Real Estate Partners.
The four assets included in the portfolio are Avilla Gateway, Avilla Magnolia, Avilla Eastlake and Avilla Canyon (pictured). These Class-A built-to-rent communities were completed between 2021 and 2023 and offer detached single-story homes with private backyards, high-end finishes and resort-style amenities for residents to enjoy. On average, each unit across the portfolio is 959 square feet.
As a pioneer in the BTR sector with over 9
