NexMetro Inks Refi’s on Four SW BTR Communities

NexMetro Inks Refi’s on Four SW BTR Communities

NexMetro has successfully recapitalized a four-property portfolio of Build-to-Rent units in Phoenix and Denver.

JLL represented the sponsor, NexMetro Communities, in recapitalizing the portfolio, which was valued at approximately $300 million. The financing structure includes $160 million in insurance capital invested and managed by Blackstone, plus a preferred equity investment from Artemis Real Estate Partners. 

The portfolio includes four assets: Avilla Gateway, Avilla Magnolia, Avilla Eastlake and Avilla Canyon (photo).

Completed between 2021 and 2023, these Class-A built-to-rent communities feature detached, single-story homes with private backyards, high-end finishes and resort-style community amenities. The average unit size across the portfolio is 959 square feet.

NexMetro Communities, a pioneer in the BTR sector, has developed over 9,400 homes across nearly 60 projects nationwide. This recapitalization allows NexMetro to continue growing and expanding in Sunbelt markets. 

Kevin MacKenzie, Brad Miner, Michael Joseph, Matthew Putterman and Chris Shea led JLL Capital Market’s advisory team.

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