More than what the traditional housing market has to offer

NexMetro Completes $333M Recap of BTR Portfolio

JLL Capital Markets arranged the financing on properties located in three states.

Feb 21, 2025By Jeffrey Steele Multi-Housing News

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NexMetro Communities has completed a $333 million recapitalization of a portfolio of eight build-to-rent properties in the states of Arizona, Colorado and Texas. JLL arranged the transaction in which Stockbridge is investing $65.9 million of preferred equity alongside existing assumable agency financing totaling $206 million.

The portfolio features 1,061 mostly detached, single-level BTR homes across the eight properties in three states.

This is the second closing in just over six weeks for a 12-asset portfolio owned by NexMetro. The previously announced financing included $78.7 million in equity via Artemis, and $160 million of senior debt via Blackstone across four BTR assets in Arizona and Colorado. The combined portfolio was valued at $620 million; $145 million of equity was committed along with $366 million of senior debt.

“Navigating and keeping underwriting up to date on eight different assets while adapting to market fluctuations and end-of-year timelines was a challenge,” Josh Hartmann, CEO of NexMetro, told Multi-Housing News.

“Our teams were nimble and creative in structuring preferred equity behind the existing agency senior debt, allowing for cash distributions to current investors.

“NexMetro achieved its capital strategy goals by collaborating with our strong project teams at Stockbridge and JLL, and quickly adapting to dynamic market conditions.”

Growth markets
Completed between 2018 and 2019, the eight properties are Avilla Camelback Ranch, Avilla Centerra Crossing, Avila Deer Valley, Avilla Lehi Crossing, Avilla Meadows, Avilla Buffalo Run, Avilla Northside and Avilla Heritage, all in key growth markets.

As a result of the most recent recapitalization, NexMetro is able to return capital to investors and at the same time continue to develop projects in its pipeline. Completed, under construction or in development are 60 projects across the U.S. Sunbelt.

Representing the borrower, the JLL Capital Market’s Debt Advisory team was directed by President Kevin MacKenzie. Also part of the team were Michael Joseph and Brad Miner, senior managing directors; Matthew Putterman and Chris Shea, managing directors; Caroline Novak, director; and Weston Nearon, senior analyst.

NexMetro Communities completes $333M recapitalization of eight-asset build-to-rent portfolio across three states

JLL Capital Markets facilitates equity placement for a portfolio across Arizona, Colorado and Texas

Feb 20, 2025Gréta Kieras Senior Associate, Public Relations JLL.com

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PHOENIX, Feb. 20, 2025 –  JLL Capital Markets announced today that it has arranged a recapitalization of eight NexMetro assets with Stockbridge investing $65.9 million of preferred equity along existing assumable agency financing of $206 million.

This completes the second closing over 45 days on a 12-asset portfolio transaction across Arizona, Colorado and Texas. The previously announced pool included $78.7 million in equity (via Artemis) and $160 million of senior debt (via Blackstone) across four build-to-rent assets in Arizona and Colorado.

The combined portfolio was valued at $620 million, with $145 million of equity committed and $366 million of senior debt.

The NexMetro eight-asset portfolio consists of 1,061 mostly detached, single-level BTR homes across eight properties in three states: Avilla Camelback Ranch, Avilla Centerra Crossing, Avilla Deer Valley, Avilla Lehi Crossing, Avilla Meadows, Avilla Buffalo Run, Avilla Northside and Avilla Heritage. Built between 2018 and 2019, these communities represent high-quality, newly constructed BTR assets in key growth markets.

The most recent recapitalization allows NexMetro to return capital to investors while continuing to build its already robust development pipeline. The company has 60 projects across the Sunbelt either completed, under construction or in development.

JLL Capital Market’s Debt Advisory team representing the borrower was led by President Kevin MacKenzie, Senior Managing Directors Michael Joseph and Brad Miner, Managing Directors Matthew Putterman and Chris Shea, Director Caroline Novak and Senior Analyst Weston Nearon.

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

Arizona Housing Fund Names NexMetro Communities 2024 Partner of the Year

Jan 30, 2025Arizona Housing Fund LinkedIn

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PHOENIX (January 30, 2025) – The Arizona Housing Fund (AZHF), a private sector fundraising initiative created to reduce homelessness in Arizona, has named NexMetro Communities its 2024 partner of the year. The award recognizes NexMetro’s success in raising awareness about the homelessness epidemic in Arizona and helping to fund additional housing for formerly homeless individuals and families throughout the state. AZHF Founder Howard Epstein surprised NexMetro CEO Josh Hartmann with the award at NexMetro’s January 29 company meeting.

“NexMetro has embraced this cause from the start,” says Epstein. “The company has donated more than $50,000 to the Arizona Housing Fund, with every dollar donated to qualified Arizona nonprofits to build and operate more permanent supportive housing for Arizona’s most vulnerable populations, including seniors, veterans, and those suffering from mental illness. But even more importantly, NexMetro is an enthusiastic ambassador showing other multifamily owners, property managers, and real estate companies that if we all get involved and do our part, we can make a significant difference, and fund the housing needed to end homelessness in our state.”

When Epstein and AZHF Advisory Committee member and local developer Tim Sprague forged a partnership with The Arizona Multihousing Association (AMA), their goal was to encourage AMA members to donate $5 for every lease application received and give tenants an opportunity to round up their rent payments with an AZHF donation. NexMetro Communities, the nation’s leading developer of single-family rental home neighborhoods, stepped forward to lead this effort by piloting the program at their Arizona communities.

“As a founding member of the Arizona Housing Fund, it’s been humbling to see the magnifying impact. The success of this program – and the enthusiasm colleagues and Avilla residents have shown to support the great work of the Fund in reducing the number of people experiencing homelessness – began as a spark and has grown into a flame,” said Hartmann. “It only takes one individual, one business, one visionary program like the Arizona Housing Fund to create life-changing impacts.

“We’ll continue to advocate for solutions for Arizonans struggling to meet their rent or put a roof over their head. NexMetro is in the shelter business, but our mission with this fund is about more than giving back. It’s about creating a vehicle to educate the public and other business leaders about a simple, actionable way to help our community members in need.”

To date, the Arizona Housing Fund has raised more than $2 million and awarded $1.7 million in grants to 10 Arizona nonprofits for eight unique projects that will provide more permanent, supportive and affordable housing for hundreds of Arizonans in need. Arizona homebuilders who wish to get involved with the Arizona Housing Fund and make a donation for each new home sold can visit arizonahousingfund.org to learn more.

NexMetro Enters Greater Austin BTR Market

Avilla Vista Ranch is the first of several developments in the firm’s local pipeline.

Jan 28, 2025By Claudiu Tiganescu Multi-Housing News

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NexMetro Communities will soon open Avilla Vista Ranch, a 150-unit luxury single-family rental property in Liberty Hill, Texas, outside of Austin. Upon its February debut, the community will mark the firm’s entrance into the market.

DTJ Design provided architecture services, while Catamount Constructors serves as general contractor.

Located at 9975 W. State Highway 29, the development features mostly detached single-level rental homes with one- to three-bedroom layouts. Units are slated to have private backyards, front porches and 10-foot ceilings. Community amenities will comprise a swimming pool, outdoor barbecues and dog parks, to name a few.

“We see appeal among a very diverse group of consumers—from professional millennials to middle-aged people going through a life transition like divorce or job change, to retirees seeking to simplify their lives. Many of these people have lived in and even owned homes before—truly representing renters by choice in the marketplace,” Jason Flory, managing director for NexMetro Communities’ Austin & Atlanta Divisions, told Multi-Housing News.

The property is about 32 miles northwest of downtown Austin. The Liberty Hill city center is some 4 miles away.

A greater Austin BTR trio
NexMetro has another two upscale projects underway in greater Austin, with a total unit count of 634 rental homes including Avilla Vista Ranch. Capital investment for the development trio neared $200 million.

Also under the Avilla brand, Berry Creek Highlands—a 224-unit build-to-rent development in Georgetown—will debut in March, while Rio Oaks, a 260-unit single-family rental project also in Liberty Hill, is slated for completion in June.

Catamount Constructors serves as general contractor for Rio Oaks as well, while Mosaic provides general contracting services for Berry Creek Highlands. DTJ Design was the architect of record for all three projects.

“The greater Austin market’s population has been growing steadily, which has increased the demand for housing,” Flory added. “And renting is now seen as a more affordable option than buying, even with a luxury top-tier leased offering like Avilla Homes.” Renting a home in metro Austin was on average $1,048 cheaper than paying mortgage as of September 2024, according to a Yardi Matrix report.

NexMetro is looking to further expand its BTR inventory in the Austin and San Antonio markets. The developer intends to kick off sitework at two other projects in the coming months: Avilla Homestead in New Braunfels, Texas, and Avilla Nolina in Georgetown, Texas.

Greater Austin’s BTR pipeline comprised approximately 2,900 units underway as of January, the same data provider shows. About 710 rental homes debuted in 2024, a figure 14.3 percent lower than the one registered in 2023. Against the backdrop of the supply glut, metro Austin’s BTR advertised asking rental rates dipped by 3.7 percent year-over-year in November, the report also shows.

Over 600 homes coming to Georgetown, Liberty Hill in 2025

Jan 22, 2025By Anna Maness Community Impact (Austin)

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NexMetro Communities is set to finish construction in June on more than 600 homes in Williamson County.

The first of three neighborhoods is set to open in Liberty Hill by February.

Current situation
The gated Avilla Homes neighborhoods will arrive in Georgetown and Liberty Hill over the next several months, offering leased home communities, according to a news release. The developments feature mostly detached, single-story homes with one to three bedrooms, private backyards, front porches and 10-foot ceilings.

Leased home neighborhoods allow residents to live mortgage-free, said Jason Flory, NexMetro Communities managing director for Austin and Atlanta, in a news release.

A total of 634 new homes will come out of the communities, which include:
Avilla Vista Ranch: 150 homes opening in February on 14 acres in Liberty Hill
Avilla Berry Creek Highlands: 224 homes opening in March on 25 acres in Georgetown
Avilla Rio Oaks: 260 homes opening in June on 25 acres in Liberty Hill
Monthly rent starts at $1,800 and reaches the $2,600s range, an official said in an email to Community Impact.

The specifics
Granite countertops, stainless steel appliances and hard-surface flooring are interior features, per the release. Each neighborhood will include a pool, outdoor barbecues and dog parks.

The three developments signify NexMetro Communities’ entrance into the Austin-area and represent almost $200 million in capital investments in Georgetown and Liberty Hill, according to the release.

Zooming out
NexMetro has about 60 Avilla Homes neighborhoods across the country in Phoenix, Dallas, Denver, Atlanta and Tampa. The developer is actively pursuing additional locations in Central Texas, per the release.

“While the increasing cost of homeownership is driving the appeal of new rental homes, we also are finding more renters by choice in the market,” Flory said in the release.

Blackstone Enters $300M BTR Deal

JLL arranged the recapitalization on behalf of the sponsor.

Jan 16, 2025By Claudiu Tiganescu Multihousing News

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NexMetro Communities has recapitalized an 849-unit single-family rental portfolio in a transaction that valued the collection at $300 million. The four assets are in Phoenix and metro Denver.

The new financing structure includes $160 million in insurance capital invested and managed by Blackstone, as well as a preferred equity investment from Artemis Real Estate Partners. JLL represented NexMetro.

This transaction furthers Blackstone’s entrenchment in the build-to-rent sector. Last year, the company paid $3.5 billion for Toronto-based Tricon Residential—which owned a $1 billion SFR pipeline in the U.S. as of January 2024. Blackstone also paid $6 billion for Home Partners of America in 2021, a company that owned more than 17,000 SFR units at the time.

The portfolio comprises four Avilla-branded properties, dubbed Canyon, Magnolia, Gateway and Eastlake. The former three are in Phoenix, roughly 17 miles away from the downtown area. Avilla Eastlake is in Thornton, Colo., about 13 miles north of Denver’s city center.

Built between 2021 and 2023, the properties encompass mostly one- to three-bedroom detached, single story, single-family homes for rent averaging 959 square feet. The communities feature swimming pools, outdoor kitchens and dog parks, among other amenities.

The recapitalization allows NexMetro to fuel its growth across key Sun Belt markets. The company has developed more than 9,400 units across nearly 60 projects throughout the nation.

One of the firm’s holdings is Avilla Palomino, a 197-unit single-family rental property in Glendale, Ariz., which NexMetro developed in a joint venture with Mosaic. The community launched last year.

JLL President Kevin MacKenzie and Senior Managing Directors Brad Miner and Michael Joseph, together with Managing Directors Matthew Putterman and Chris Shea, worked on behalf of NexMetro in the recapitalization process.

The oversupplied Phoenix BTR market
The exponential growth of BTR product in select areas led to a market saturation which contributed to a supply-demand imbalance leading to higher vacancy rates, according to Multi-Housing News‘ 2025 SFR/BTR outlook.

One of the saturated markets was Phoenix, with more than 12,500 SFR units debuting between 2020 and 2024, Yardi Matrix shows. The metro’s single-family rental occupancy declined 1 percent year-over-year in November and its advertised asking rents contracted by 3.6 percent during the same period, the data provider reported.

Meet the 2024 Best Places to Work winners and finalists

Dec 12, 2024The Phoenix Business Journal

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The Phoenix Business Journal unveiled the 2024 Best Places to Work in the Valley at our annual awards event on Dec. 12.

More than 600 people attended the Western-themed celebration, sponsored by Cornerstone Staffing, to honor multiple businesses and nonprofits including six winners ranked in six different size categories based on the number of employees.

The 22nd annual event was held at the JW Marriott Phoenix Desert Ridge Resort & Spa. It included a plated lunch, videos from the winners, and guests fashioned in Wild Wild West costumes.

Quantum Workplace collected and tallied the submissions from all individual employees at each business or organization. The company also selected this year's top three winners in each size category. The criteria judged were based on each organization's efforts to create a desirable working environment, where the company went above and beyond to attract and maintain talent, from an inclusive workplace culture to the benefits they offer.

Read more about the first-place winners and finalists by clicking the links below. Full coverage of the Best Places to Work with the rankings of all 99 honorees will be published in the Dec. 13 weekly print and digital edition. Below are the category breakdowns and winners for the 2024 Best Places to Work.

Micro category, 10-24 employees: GoldBook Financial
Extra-Small, 25-49 employees: Bison Ventures
Small, 50-99 employees: NexMetro Communities
Midsize, 100-249 employees: CHASSE Building Team
Large, 250-999 employees: CORE Construction
Extra-Large, 1,000+ employees: Shamrock Foods Company

Avilla Cypress Creek offers unique lifestyle

Nov 21, 2024By PHYLLIS HODGES The Observer News

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The November 21 Grand Opening of Avilla Cypress Creek, (Sun City Center), is a great opportunity for learning more about this built-to-rent neighborhood. The event begins at 9 a.m. and features three models for touring—one that will be fully furnished (two-bedroom).

The concept of Avilla communities, built by NexMetro, is relatively new. It offers an alternative to typical rentals, in that it features single level, detached homes for lease in a gated enclave.

Linda Coburn, NexMetro’ s vice president of asset management, said, “Our residents are typically ones who have the wherewithal to buy or to own but are choosing to rent. There is tremendous appeal of this hybrid housing offering to diverse consumers in all stages of life. They often range from young professionals looking for convenience and proximity to employment opportunities or those in a life-stage transition. Others are baby boomers downsizing and looking to scale back while increasing their freedom and discover our Avilla homes can meet all their needs.”

NexMetro has several communities in Florida. Avilla Cypress Creek is the second for serving the Tampa Market; it follows Avilla Suncoast, opened in Odessa three years ago. The company has invested $2.5+ billion in the Phoenix, Dallas, Denver, Tampa, Austin and Atlanta markets combined. It currently has over 52 neighborhoods—more than 9,300 homes completed, under construction or in development.

William Hulton, NexMetro’s vice president of development for Florida, says, “Demand for single-family rental homes remains incredibly strong as consumers seek this unique lifestyle experience that combines the best of a detached home and mortgage-free, maintenance-free living.”

Avilla Cypress Creek features 168 units on the 17-acre site. The two-bedroom (1,007 sq. ft.) and three-bedroom (1,280 sq. ft.) floor units are detached. The one-bedroom units (700 sq. ft.) share a wall with another unit. They all feature private entrances, outdoor patios and backyards. Socializing opportunities abound with the pool, spa, outdoor recreational areas and dog park.

The homes all have 10-ft. ceilings and are designed with lots of windows. They are fitted with top-tier amenities, including private entrances and backyards, stainless steel appliances, quartz countertops, a full-size washer and dryer and smart home technology. Monthly rentals range from $1,700 to $2,800. Garages, storage units and electric car charging stations are available. The neighborhood is maintained by a professional management company.

Here are the winners of the 2024 CFO of the Year Awards

NexMetro's Chief Accounting Officer wins AZ Big Media's CFO of the Year

Nov 16, 2024AZ Big Media

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NexMetro Communities Chief Accounting Officer Max Taylor has won the AZ Big Media 2024 CFO of the Year award in the medium-size business category, which was presented on Wednesday night at the 16th Annual CFO of the Year Awards at Chateau Luxe Event Venue!

7 Trends Shaping the Build-to-Rent Market in 2025

A lower cost of capital, more starts and developments, the rise of attached product, and technology are among the factors shaping how the BTR market will be defined in 2025.

Nov 13, 2024By Vincent Salandro Builder Online

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While the build-to-rent (BTR) market has experienced a softening recently as the higher cost of capital has discouraged deals, the general state of the market is “good and getting better,” according to Callum Parrott, president and head of single-family rental (SFR) and BTR for Mill Creek Residential.

On the supply side, rate cuts from the Fed should lower the cost of capital, enable more deals, and encourage more investor activity. Such tailwinds should boost development and starts, which have been softer in 2023 and 2024. On the demand side, consumer affordability concerns and a product that caters to the lifestyle preferences of the demographic targets should allow the BTR sector to continue to capture demand for renters, both by choice and by financial necessity. Emerging trends, such as the rise of density-focused townhomes and attached product as well as technology in property management, will differentiate the BTR market and create a pathway for innovation in the sector.

Avilla Palomino opens in Glendale later this month

Nov 06, 2024By Glendale Independent

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NexMetro Communities, a developer of leased single-family rental neighborhoods, is opening its 21st new Avilla Homes community in the Valley, with more projects currently in development.

Avilla Palomino in Glendale opens in late November, following two other projects earlier this year — Avilla Broadway in Phoenix and Avilla Mystic in Peoria. NexMetro has four more projects under construction in the Valley.

“This high-quality living experience has broad appeal, and our residents are very diverse—from millennials and young families to those in mid-life and retirement.” stated Linda Coburn, vice president of asset management for NexMetro, in a press release.
Avilla Palomino will be a 197-home community is on the southeast corner of 51st and Peoria avenues in Glendale. It is within driving distance of Historic Downtown Glendale, Glendale's Sports and Entertainment District, and Arrowhead Towne Center.

Nearby employers such as Banner Thunderbird Medical Center and Honeywell Aerospace DSES. For more information, visit www.AvillaPalomino.com.

Coburn stated new Avilla Homes communities offer hallmark private backyards, private entries and high 10-foot ceilings, while also debuting new floorplans featuring additional storage.

“It’s more about efficiency than increasing square footage. Now our residents have even more options to keep their seasonal decorations, mementos, sports equipment and more in their new Avilla home.” Coburn stated.
Jared Geisler, managing director of NexMetro’s Phoenix Division, said while BTR neighborhoods have a significant presence in the Southwest Valley, the area’s continued growth has fueled demand.

“We are highly strategic in identifying great locations where people want to live,” stated Geisler. “And while our growth in the Valley has been steady, the housing shortage has been exacerbated by low availability and affordability.”

NexMetro opens 21st build-to-rent community in Metro Phoenix

NexMetro Communities, the pioneer developer of luxury leased single-family rental neighborhoods, is opening its 21st new Avilla Homes community in Metro Phoenix, with more projects currently in development.

Nov 05, 2024AZ Big Media

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NexMetro will open Avilla Palomino in Glendale in late-November and has opened two other projects earlier this year—Avilla Broadway in Phoenix and Avilla Mystic in Peoria. The build-to-rent (BTR) Developer has four more projects under construction in the Valley and has nearly 60 projects representing more than 10,000 homes across the nation either completed or in development.

“Our Avilla neighborhoods continue to provide an option for those renters by choice seeking the privacy and comforts of a single-level detached home without the hassles of home ownership,” said Linda Coburn, vice president of asset management for NexMetro. “This high-quality living experience has broad appeal, and our residents are very diverse—from millennials and young families to those in mid-life and retirement.”

Coburn said the recent new Avilla Homes openings in the Southwest Valley offer hallmark private backyards, private entries and high 10-foot ceilings, while also debuting new floor plans featuring additional storage that the company identified as a top preference in resident surveys.

“We asked our valued residents what was most important to them, and added storage space was a major preference across the board,” Coburn said, adding that reconfiguring popular living spaces such as the kitchen and entertainment areas alone created more over-and-under counter spaces. “It’s more about efficiency than increasing square footage. Now our residents have even more options to keep their seasonal decorations, mementos, sports equipment and more in their new Avilla home.”

Jared Geisler, managing director of NexMetro’s Phoenix Division, said while BTR neighborhoods have a significant presence in the Southwest Valley, the area’s continued growth has fueled robust demand for a rental alternative to traditional apartment living.

“We are highly strategic in identifying great locations where people want to live,” said Geisler, adding that Avilla sites have excellent proximity to freeways, employment corridors, retail and services. “And while our growth in the Valley has been steady, the housing shortage has been exacerbated by low availability and affordability.”

The most recent Avilla neighborhood openings in the Southwest Valley include:

Avilla Palomino – Conveniently located in Glendale, AZ, this 197-home community is slated to open in late November and grants easy access to a myriad of attractions including Historic Downtown Glendale, Glendale Sports and Entertainment District, and Arrowhead Towne Center. Additionally, these homes are nestled between US 60 and I-17, for an easy commute into Phoenix or to nearby employers such as Banner Thunderbird Medical Center and Honeywell Aerospace DSES. Outdoor enthusiasts can enjoy nearby North Mountain Park, Sonoran Preserve – Desert Vista Trailhead, or the beautiful on-site communal greenspace. For more information, visit www.AvillaPalomino.com.

Avilla Broadway – This beautiful 117-home neighborhood opened this past summer on more than 10 acres in Phoenix, conveniently near the Loop 202 South Mountain and I-10 freeways, offering stunning views of the Sierra Estrella Mountains. The community’s new one-, two-, and three-bedroom rental homes are adjacent to the South Mountain Preserve and provide access to hundreds of hiking, biking and walking trails for residents to enjoy. For more information, visit www.AvillaBroadway.com.

Avilla Mystic – This highly sought-after location in the Mystic at Lake Pleasant Heights neighborhood is situated in the Peoria Unified School District and is near numerous attractions including Lake Pleasant Regional Park and Westgate Entertainment District. Featuring modern designs, essential fixtures that employ Smart Home technology, high-end finishes like quartz counters and stainless-steel appliances, and private backyards and front entries, this 254-home community opened in August 2024 with amenities that make residents feel right at home. For more information, visit www.AvillaMystic.com.

Avilla Homes communities offer hassle-free, maintenance-free living with modern finishes and private backyards, maximizing convenience and luxury for individuals who choose to rent but don’t want to sacrifice the lifestyle of a home. Other features of the mostly detached, single-level homes include 10-foot ceilings, private front entries, open floor plans, granite countertops, stainless steel appliances and hard-surface flooring throughout. The pet-friendly communities are gated and offer garages, covered parking, and amenities such as resort-style pools and spas, outdoor grills, lounge areas, sport courts, walking paths and grassy, open spaces—including dog parks—to meet up with neighbors.

National Build-to-Rent Developer Opens First Atlanta Neighborhood

NexMetro Communities under construction on 687 new luxury rental homes representing $210M+ local investment in four distinct locations

Oct 30, 2024Atlanta, GA

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(Atlanta, GA) October 30, 2024 – NexMetro Communities, the nation’s leading developer of build-to-rent (BTR) home neighborhoods, is underway on four new Atlanta-market projects that will bring 687 highly sought-after luxury leased homes to the area over the next two years.

Known for its hallmark detached single-level neighborhoods with private backyards, NexMetro is entering the Atlanta market with a luxury rental townhome community in South Fulton. South Pine Townhomes opens for leasing November 14, marking the company’s entry into Atlanta.

“NexMetro’s expansion in the Atlanta market reflects the company’s strategic growth in key locations based on the growing number of people who would rather lease than own a home,” said Sean Rust, vice president of development for NexMetro’s Atlanta division. “The appeal of mortgage-free, maintenance-free living is unmistakable for lifestyle-conscious consumers of all walks of life.”

Rust said the new South Pine Townhomes opening and three additional Avilla Homes communities currently under construction represent a more than $210 million investment in the market, with the BTR developer pursuing more great locations for new luxury leased home neighborhoods. He said the company sees long-term opportunity in the Atlanta market and is focused on developing new luxury leased home neighborhoods in growth submarkets with strong demand drivers such as rising population and household incomes, and proximity to freeways, retail and services.

South Pine Townhomes is located off I-85 in South Fulton and offers proximity to Hartsfield Jackson International Airport and commercial corridors in the booming south metro Atlanta area. The luxury leased neighborhood features 193 two-level attached townhomes with private backyards and garages in a gated 34-acre enclave.

The two and three-bedroom townhomes range in size from 1,332 to 1,463 square feet and offer two distinct floorplans. Each townhome features premium amenities including wood-plank style flooring on both levels, Quartz countertops, stainless steel appliances and a full-sized washer/dryer. The gated community also features a resort-style pool, outdoor grilling area and pavilion, fire pit, tot lot, dog park, sports court, and 24-hour emergency maintenance.

In addition to South Pine, NexMetro is currently under construction on three more Avilla Homes neighborhoods: Avilla Clearwater Lake in Aiken County with 229 homes, Avilla Holloway in Stockbridge with 136 homes, and Avilla Friendship Trails in Hall County, offering 129 homes, anticipated to open in early 2026.

NexMetro has more than 10,000 homes representing nearly 60 neighborhoods completed or in development in the Phoenix, Dallas-Fort Worth, Austin, Denver, Tampa and now Atlanta markets.

For more information or to schedule a tour of South Pine Townhomes, go to SouthPineLiving.com.

NexMetro Exemplifies Strength of Build-to-Rent Sector with 21st New Community Opening in Metro Phoenix

BTR Developer’s New Luxury Leased Homes Feature New Resident-Inspired Floorplans

Oct 28, 2024Phoenix, AZ

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(PHOENIX) – October 28, 2024 – NexMetro Communities, the pioneer developer of luxury leased single-family rental neighborhoods, is opening its 21st new Avilla Homes community in the Valley, with more projects currently in development.

NexMetro will open Avilla Palomino in Glendale in late-November and has opened two other projects earlier this year—Avilla Broadway in Phoenix and Avilla Mystic in Peoria. The build-to-rent (BTR) Developer has four more projects under construction in the Valley and has nearly 60 projects representing more than 10,000 homes across the nation either completed or in development.

"Our Avilla neighborhoods continue to provide an option for those renters by choice seeking the privacy and comforts of a single-level detached home without the hassles of home ownership,” said Linda Coburn, vice president of asset management for NexMetro. “This high-quality living experience has broad appeal, and our residents are very diverse—from millennials and young families to those in mid-life and retirement.”

Coburn said the recent new Avilla Homes openings in the Southwest Valley offer hallmark private backyards, private entries and high 10-foot ceilings, while also debuting new floorplans featuring additional storage that the company identified as a top preference in resident surveys.

“We asked our valued residents what was most important to them, and added storage space was a major preference across the board,” Coburn said, adding that reconfiguring popular living spaces such as the kitchen and entertainment areas alone created more over-and-under counter spaces. “It’s more about efficiency than increasing square footage. Now our residents have even more options to keep their seasonal decorations, mementos, sports equipment and more in their new Avilla home.”

Jared Geisler, managing director of NexMetro’s Phoenix Division, said while BTR neighborhoods have a significant presence in the Southwest Valley, the area’s continued growth has fueled robust demand for a rental alternative to traditional apartment living.

“We are highly strategic in identifying great locations where people want to live,” said Geisler, adding that Avilla sites have excellent proximity to freeways, employment corridors, retail and services. “And while our growth in the Valley has been steady, the housing shortage has been exacerbated by low availability and affordability.”

The most recent Avilla neighborhood openings in the Southwest Valley include:

Avilla Palomino – Conveniently located in Glendale, AZ, this 197-home community is slated to open in late November and grants easy access to a myriad of attractions including Historic Downtown Glendale, Glendale Sports and Entertainment District, and Arrowhead Towne Center. Additionally, these homes are nestled between US 60 and I-17, for an easy commute into Phoenix or to nearby employers such as Banner Thunderbird Medical Center and Honeywell Aerospace DSES. Outdoor enthusiasts can enjoy nearby North Mountain Park, Sonoran Preserve – Desert Vista Trailhead, or the beautiful on-site communal greenspace. For more information, visit www.AvillaPalomino.com.

Avilla Broadway – This beautiful 117-home neighborhood opened this past summer on more than 10 acres in Phoenix, conveniently near the Loop 202 South Mountain and I-10 freeways, offering stunning views of the Sierra Estrella Mountains. The community’s new one-, two-, and three-bedroom rental homes are adjacent to the South Mountain Preserve and provide access to hundreds of hiking, biking and walking trails for residents to enjoy. For more information, visit www.AvillaBroadway.com.

Avilla Mystic – This highly sought-after location in the Mystic at Lake Pleasant Heights neighborhood is situated in the Peoria Unified School District and is near numerous attractions including Lake Pleasant Regional Park and Westgate Entertainment District. Featuring modern designs, essential fixtures that employ Smart Home technology, high-end finishes like quartz counters and stainless-steel appliances, and private backyards and front entries, this 254-home community opened in August 2024 with amenities that make residents feel right at home. For more information, visit www.AvillaMystic.com.

Avilla Homes communities offer hassle-free, maintenance-free living with modern finishes and private backyards, maximizing convenience and luxury for individuals who choose to rent but don’t want to sacrifice the lifestyle of a home. Other features of the mostly detached, single-level homes include 10-foot ceilings, private front entries, open floor plans, granite countertops, stainless steel appliances and hard-surface flooring throughout. The pet-friendly communities are gated and offer garages, covered parking, and amenities such as resort-style pools and spas, outdoor grills, lounge areas, sport courts, walking paths and grassy, open spaces—including dog parks—to meet up with neighbors.

NexMetro Expands Central Florida Footprint with New BTR Neighborhood

Leading Build-to-Rent developer opens Avilla Cypress Creek near Sun City

Oct 28, 2024Tampa, FL

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(Tampa, FLA) – October 28, 2024 – NexMetro Communities, a pioneer developer of luxury leased home neighborhoods, is opening its second Central Florida location in late November 2024. The 166-home neighborhood serves the pent-up demand of lifestyle-conscious consumers seeking a single-family home alternative to the traditional rental experience.

Avilla Cypress Creek is a beautiful 17-acre neighborhood that offers the benefits of new single-level detached homes nestled inside a gated community for people seeking to rent rather than own.

“Demand for single-family rental homes remains incredibly strong as consumers seek this unique lifestyle experience that combines the best of a detached home and mortgage-free, maintenance-free living,” said William Hulton, NexMetro’s vice president of development for Florida. The company’s first Tampa market community, Avilla Suncoast, is located in Odessa. “NexMetro’s ongoing expansion with new Avilla neighborhoods in Central Florida reflects the company’s strategic growth in prime suburban locations in growing submarkets,” Hulton added.

Located in the highly desirable Hillsborough community, Avilla Cypress Creek is well positioned near popular retail opportunities, freeway access, and top-tier employers. NexMetro is the leader in the build-to-rent industry with more than 10,000 homes representing nearly 60 projects completed or under construction in Phoenix, Dallas/Fort Worth, Austin, San Antonio, Denver, Atlanta, Orlando, and Tampa to date.

The cottage-style, single level, detached homes range from one, two and three bedrooms with open floor plans that offer front porches and private backyards, optional lanais, extra storage, high ceilings, stainless steel appliances, full washer and dryer, and elegant hard-surface flooring.

“The opening of Avilla Cypress Creek and our continued growth in Central Florida demonstrates the tremendous appeal of this hybrid housing model to a diverse clientele in all stages of life,” said Linda Coburn, NexMetro’s vice president of asset management. “Our residents often range from young professionals looking for convenience and proximity to employment, to those in a mid-life transition, and baby boomers simply downsizing and simplifying their lives.”

Featuring resort-inspired amenities, the pet-friendly community also boasts a spacious, resort-style pool, spa, dog park, grilling stations, green space, fire pit and gathering areas.

Priced competitively with surrounding A-class apartments, Avilla Cypress Creek is professionally managed and offers on-site maintenance. For more information, to schedule a tour, or to sign up for a VIP interest list, please visit: https://www.avillacypresscreek.com/.

Greg Fedorinchik, CFA Joins NexMetro to Lead Equity Capital Markets, Investor Relations Efforts

Mar 27, 2024Phoenix, AZ

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(PHOENIX) March 27, 2024 – NexMetro Communities, a leading national developer and pioneer of build-to-rent (BTR) neighborhoods, has hired industry veteran Greg Fedorinchik, CFA to serve as managing director of equity capital markets. Fedorinchik’s appointment is pivotal as the company, founded in 2012, expands its pipeline of new luxury leased home projects, eight of which are scheduled to open in 2024.

Fedorinchik has spent the bulk of his 30-year career leading both investment and client-facing teams focused on alternative investments and global asset allocation strategies. Before joining NexMetro, Fedorinchik held long-term senior management roles at Brinson Partners (acquired by UBS Asset Management) and Mesirow Financial, along with consulting and interim roles with large public and small private investment firms where he was instrumental in aligning investors and investment managers in the pursuit of value-added investments, portfolios and projects.

“Innovative, high-quality, leased homes and neighborhoods have great appeal for consumers, suburban communities and investors alike,” said Fedorinchik. “NexMetro is the gold standard in BTR, and I’m looking forward to working closely with our existing and new capital partners as we continue to grow our presence across the country. I am particularly excited about the launch of our first pooled vehicle this year—the NexMetro Direct Access Fund, 2024.”

Jacque Petroulakis, who has served as executive vice president of investor relations for NexMetro, has been promoted to chief communications officer for the company to focus on corporate communications strategy and branding initiatives.

Fedorinchik joins NexMetro Communities as the company has recently surpassed a $2B milestone in total project investment for its more than 55 projects comprising approximately 9,400 homes completed, under construction or in development in Arizona, Texas, Colorado, Georgia and Florida.

“Greg’s experience, vision and skill as an investor in public and private markets is critical for NexMetro’s continued growth as we look to fund our healthy pipeline of BTR projects across the US Sunbelt,” said NexMetro CEO Josh Hartmann.

“We look forward to leveraging Greg’s extraordinary insights gained over more than three decades in capital markets and building and managing investor relationships to further enhance NexMetro’s already strong industry position,” Hartmann said.

For more information about NexMetro equity capital markets, go to nexmetro.com or contact the company at investors@nexmetro.com.

Luxury Leased Home Community Avilla Boat Club Now Open

Leading BTR developer NexMetro now renting new homes at its 15th DFW neighborhood with first resident move-ins expected in January 2024

Dec 18, 2023Fort Worth, TX

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December 18, 2023 (Fort Worth, TX) -- NexMetro Communities, the nation’s leading luxury leased home developer, has opened its 15th Avilla Home neighborhood in the Dallas/Fort Worth metroplex. Avilla Boat Club, a 107-home gated rental home community located in the northwest Fort Worth coveted Eagle Ranch master plan, opened this week to the public.

“Avilla Boat Club has an early interest list of more than 200 people seeking a new rental home lifestyle in one of the area’s most highly sought neighborhoods,” said Linda Coburn, NexMetro’s vice president of asset management. “From young professionals to empty nesters, they’re each ready for a next chapter that doesn’t include home maintenance or a mortgage. They don’t want to sacrifice the privacy and luxury they’ve worked so hard to achieve, so these homes are the perfect fit,”

The new Avilla rental neighborhood offers direct access to I-820 and nearby employment, retail, dining and entertainment opportunities, with the first resident move-ins anticipated in late January 2024. Avilla Boat Club’s single-level, mostly detached homes offer resort-inspired amenities and best-in-class interior elements like gourmet kitchens, pet-friendly backyards, a community dog park and an outdoor gaming and grilling area.

“We continue to see considerable demand in submarkets across Dallas and Fort Worth for our best-of-both-worlds lifestyle offering,” Coburn said. What we’ve created is a great place for people to live that is also a point of pride for the surrounding neighborhoods.”

A professionally managed, pet-friendly community, Avilla Boat Club is just 25 minutes from downtown Fort Worth near major freeways, employment corridors and retail. Future residents will enjoy private front entrances and backyards, smart home technology, EV friendly garages and access to nearby Eagle Mountain Lake, which offers more than 8,600 acres of freshwater recreation that includes boating, water skiing, fishing and more.

Since opening its first neighborhood in Plano, Texas, in 2017, nearly 3,000 1, 2 and 3-bedroom Avilla homes have been built or are under construction in submarkets across the Dallas-Fort Worth metroplex. With an average household income of more than $134,000, Avilla residents continue to choose the highly desirable housing model that offers them the luxury they’ve earned and the convenience they desire.

To schedule a tour or learn more about Avilla Boat Club, visit https://www.avillaboatclub.com/.

Leading BTR Developer Starts Construction on Three Austin-Area Projects NexMetro Communities Adds 634 Single-Family Luxury Leased Homes to Growing Portfolio

Avilla Berry Creek Highlands, Avilla Vista Ranch and Avilla Rio Oaks represent nearly $200M investment; with more in Austin market pipeline

Nov 14, 2023Austin, TX

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(Austin, TX) November 14, 2023 – NexMetro Communities, the country’s leading developer of luxury leased single-family home neighborhoods, is underway on three new Austin market projects that will bring 634 highly sought-after rental homes to the area. Construction on NexMetro’s built-to-rent Avilla neighborhoods began in Central Texas with Avilla Berry Creek Highlands in August, Avilla Vista Ranch this month, and at Avilla Rio Oaks starting in December 2023.

“NexMetro continues to see considerable consumer demand for our Avilla leased home neighborhoods because they provide a lifestyle that combines a new detached home and mortgage-free, maintenance-free living,” said Jason Flory, managing director for NexMetro Communities’ Austin Division. Flory added that recent reports show Austin tops the list of markets favoring renting over buying (Realtor.com). “We are actively pursuing more great locations for new neighborhoods in Central Texas because our luxury leased homes are even more appealing to consumers of all walks of life in this challenging housing market.”

Avilla Homes neighborhoods offer single-level one, two and three-bedroom homes with no shared walls, private backyards, front porches, open floor plans, high ceilings and luxury finishes. The gated neighborhoods also feature desirable amenities such as dog parks, resort-style pools and available garages.

The three new Avilla Homes projects underway represent nearly $200 million in capital investment in the Austin submarkets of Georgetown and Liberty Hill, with additional communities in the pipeline. The company’s expansion into the Austin market brings the total number of Avilla Homes built and under development by NexMetro to more than 9,300, representing nearly 60 neighborhoods in the Phoenix, Dallas-Fort Worth, Denver, Tampa, Austin and Atlanta markets.

NexMetro targets submarkets with strong demand drivers of population and income growth for its new Avilla neighborhoods and seeks sites with excellent proximity to freeways, employment corridors, retail and services.
- Avilla Berry Creek Highlands is planned for 224 luxury rental homes on 25 acres in Georgetown, southwest of BCH Way and east of Texas SH 195.
- Avilla Vista Ranch will provide 150 homes on just more than 14 acres in Liberty Hill, southeast of County Road 266 and State Highway 29.
- Avilla Rio Oaks will offer 260 homes on 25 acres in Liberty Hill, near CR 263 and Seward Junction Loop 7864.

The homes will feature hallmark Avilla features such as private backyards and front entries, open floor plans, high ceilings, granite countertops, stainless steel appliances and hard-surface flooring throughout.

“With more than $2 billion invested in U.S. Sunbelt markets nationwide, NexMetro’s entry into Central Texas reflects the company’s strategic growth in key locations with demand by lifestyle-conscious consumers of all walks of life who would rather lease than own a home,” Flory said.

NexMetro closed escrow on its fourth BTR neighborhood in Central Texas in May called Avilla Homestead. Located in New Braunfels, Texas, site work will begin in early 2024 on the 288-home community.

Avilla Homes, St. Mary's Food Bank Partner for "Fill An Avilla" Community Water Drive

Community Invited to Support Valleywide Hydration Effort by Dropping Off Cases of Bottled Water August 7-September 7, 2023 at Designated Avilla Communities in Maricopa County

Aug 08, 2023Phoenix, Arizona

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PHOENIX (August 8, 2023) – NexMetro Communities and their Avilla Home neighborhoods are proud to partner with St. Mary’s Food Bank for the “Fill an Avilla” Community Water Drive to help alleviate the dire need for water among Arizona’s most vulnerable residents. NexMetro designated three centrally located Avilla communities across the Valley to be the drop sites for donated cases of water throughout the month of August.

Beginning Monday, August 7, 2023, three designated Avilla communities in the East Valley, North Valley and West Valley will be collecting cases of water as they challenge each other and aim to fill a 635 square foot Avilla Home at the new Avilla Grand Community. The collected water will be donated to St. Mary’s Food Bank, which provides hydration, respite and safety information to those in need at heat relief stations in Metro Phoenix on days with Excessive Heat Warnings issued by the National Weather Service. According to Maricopa County Public Health, there were 425 confirmed heat-associated deaths in Maricopa County in 2022, with more cases still under investigation. This represents a 25% increase from the year prior.

“St. Mary’s Food Bank gave out nearly 650,000 bottles of water in June, July and August of 2022,” said St. Mary’s Director of Communication Jerry Brown. “This year that number will be closer to one million. There is just tremendous need this year and we’re asking anyone who can, to help.”

“We’re all feeling the effects of this heat wave and our “Fill an Avilla” campaign allows NexMetro team members and Avilla residents to join with our larger community to create significant results as we together, collect hundreds of bottles of water across three Valley Avilla locations,” said NexMetro CEO Josh Hartmann. “This initiative demonstrates our team’s deep commitment to improving and enhancing Arizonans’ quality of life and our focus on enlisting team members and Avilla residents across Maricopa County to support these at-risk individuals at a time when we are most needed.”

The average one-bedroom Avilla home is 635 square feet with 10-foot ceilings, making the goal of approximately 5,700 cases of water. This will provide water for thousands of people across the Valley.
We will be celebrating this effort and invite the media to attend the culminating event scheduled at Avilla Grand in El Mirage on Thursday, September 7, 2023, from 4pm-7pm.

Those interested in donating a case of water in support of the “Fill an Avilla” Community Water Drive may drop off sealed bottled water at any of the following Avilla Homes communities, or make a monetary donation on the Fill an Avilla Donation page.

Avilla Canyon: 27777 N. Black Canyon Hwy., Phoenix, AZ 85085

Avilla Grand: 11755 West Thompson Ranch Road, El Mirage, AZ 85335

Avilla Lehi: 3425 East Thomas Road, Mesa, AZ 85213

NexMetro’s housing solutions allow individuals and families at every stage of life to have the best of both worlds… the space and privacy of a detached single-family home, with the freedom and resort-style amenities of a Class A rental home. To learn about available Avilla homes in Phoenix, Dallas, Denver and Tampa visit https://www.avillahomes.com/. To learn more about NexMetro and its philanthropic efforts including as an inaugural partner in the Arizona Housing Fund, visit https://nexmetro.com or check out this video.

NexMetro Expands Texas Footprint with New Luxury Leased Home Community in Fort Worth

Leading BTR developer adds Avilla Boat Club to its collection of upscale rental neighborhoods to serve consumer demand for ‘best of both worlds’ lifestyle

Aug 08, 2023Fort Worth, TX

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August 8, 2023 (Fort Worth, TX) -- NexMetro Communities, the country’s pioneer and leading developer of luxury leased home neighborhoods, is opening its 15th project in the Dallas/Fort Worth metroplex.

“Consumers are increasingly choosing to rent but don’t want to sacrifice the lifestyle of a home that they’ve worked to achieve,” said Steve Fritzer, managing director for NexMetro’s DFW Division. “We continue to see considerable demand in submarkets across Dallas and Fort Worth for our best of both worlds lifestyle offering. Our goal is to create great places for people to live and be a point of pride for the surrounding neighborhoods.”

Avilla Boat Club, a 107-home luxury rental home neighborhood opening in late 2023, is the company’s 15th Avilla community in the Fort Worth market and ideally located just 25 minutes from downtown. Within the last month, NexMetro closed escrow on two additional sites in Anna and Cleburne that are slated to open for leasing in late 2024.

Since opening its first neighborhood in Plano, Texas, in 2017, nearly 3,000 one, two, and three-bedroom Avilla homes have been built or are under construction in submarkets across the metroplex. With an average annual household income of more than $134,000, Avilla residents continue to choose the highly desirable housing model that offers them the luxury they’ve earned and the convenience they desire.

Fort Worth Avilla Trails resident Spanki Mills-Farris is one of a growing number of Americans who believe it is a much better time to lease a new home rather than buy one. “I’ve worked in real estate for many years,” she said, “and this is a good time to wait and let the market come back.” Mills-Farris moved into her Avilla home earlier this year, relocating to the Dallas-Fort Worth area to start a new business. “I own a home currently,” she said. “I’m just renting here while I get things up and running.” She said she prefers her Avilla luxury leased home to an apartment because of the no shared walls and private backyard. “I haven’t lived in an apartment in more than 25 years, so for this season in my life I love that we are in a home.”

Demand for this unique alternative to traditional rentals continues to grow in the Dallas/Fort Worth market and NexMetro is proud to help meet that demand by providing residents the highest level of comfort and convenience without the financial obligation and ongoing maintenance of owning a home. With single-level, mostly detached homes with private backyards and porches, resort-inspired amenities and best-in-class interior elements, Avilla Boat Club sets the standard for luxury rental homes.

The company seeks new sites that are located in growing submarkets and close to freeways, employment corridors, retail and recreation. For example, Avilla Boat Club has direct access to I-820, providing convenient accessibility to ample retail, dining, and entertainment opportunities. Additionally, the nearby Eagle Mountain Lake offers more than 8,600 acres of freshwater recreation including boating, water skiing, fishing and more.

Models at Avilla Boat Club will be available for tours beginning in late 2023.