Phoenix & Southwest CRE News In Your Inbox.

Sign up for Connect Daily to stay informed and save time. Connect Daily is our email publication that provides you with the latest and most relevant CRE stories of the day all in 150 words or less.

Sub Markets

Property Sectors

Topics

Phoenix & Southwest  + Phoenix  + Opportunity Zones  | 

Pintar and Suncrest Partnership Acquire OZ Land in Phoenix

Pintar Investment Company and Suncrest Real Estate & Land recently acquired an 8.68-acre Opportunity Zone parcel in Phoenix. The partnership identified the land parcel opportunity for a 109-unit build-to-rent community called Zora Encanto as an investment within the PICOZ Fund I L.P. This is the fourth asset in this investment vehicle.

“We have been actively looking to invest in the Phoenix metro as the region’s rapid business expansion, population and job growth continue to outpace the national averages, all of which bode well for single-family rental homes. This is our first asset in Phoenix and it is a market we plan to invest in further,” says Jeff Pintar, Pintar Investment Company founder and CEO.

Zora Encanto is a gated rental community made up of one- and two-bedroom units, each with individual private walk-up entrances and back yards. This type of housing option is high in demand because it combines the privacy of residential single-family living with apartment-like amenities and rental terms, according to Eric Matheis, who is overseeing the project and joint venture for Pintar.

“This housing option has become popular over the last several years, but demand has increased further since the outbreak of COVID-19 where more people are working from home and wanting more space than a traditional apartment offers,” says Matheis.

The Zora Encanto community will break ground in May 2021 and is located on the Northeast corner of Encanto Boulevard and 83rd Avenue. Construction is estimated to be complete by mid-2022 with move-ins targeted around that same time.

Connect

Inside The Story

connect with Learn More About Zora Encanto

About Lisa Brown

Lisa Brown has decades of experience in corporate communications and marketing management with organizations including Coldwell Banker Residential, Grubb & Ellis, Marcus & Millichap, NAIOP, SIOR and ALM. In those positions, she worked in conjunction with chief executive officers and chief marketing officers to create corporate messaging, cohesive branding standards, strategic marketing plans and thought pieces. Brown is a frequent speaker at industry events and an editing adjunct professor for an online course. She has a master’s degree in mass communications from San Jose State University.

  • ◦Development