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Christopher Todd Picks 217-Unit Avondale BTR Project
Christopher Todd Capital has completed its first purchase of a newly completed Build-to-Rent (BTR) community in Avondale. The company, with offices in Arizona and Florida, purchased the community for approximately $57 million, which is well below what it would cost to build from the ground up today. The seller is the WestStone Group.
The Class A community at 1350 N. 117th Ave. includes 217 one- and two-bedroom homes. Its amenities include green belts, two resort-style pools, a 24-hour fitness center and direct access to Friendship Park.
Brent Long runs Christopher Todd Capital, a privately held family office and sister company of Christopher Todd Communities, which specializes in BTR cottage-style homes.
Christopher Todd Capital targets opportunistic properties in prime locations, from $20 to $80 million. These can include newly constructed or stabilized BTR, cottage-style and select multifamily properties. Currently, target markets include Phoenix, Florida, Texas, the Carolinas, and Utah.
- ◦Sale/Acquisition
