263-home TerraLane at Canyon Trails sold for $119 million and 148-unit TerraLane at South Mountain sold for $66 million. RSI Holdings of Newport Beach, California was the seller. Inland Real Estate Acquisitions of Oak Brook, Illinois was the buyer. Northmarq’s Phoenix based office brokered the deal.

Northmarq’s Trevor Koskovich explains why rental homes communities are gaining the respect of investors, “Single family, build-to-rent communities attract longer-term renters who tend to stay put, even with increases in rent, and they typically take better care of their units. That results in few turnover costs and maintenance costs for landlords.”

Built in 2021, both developments include a Smart Home Technology package that includes, pre-installed wifi routers, facial recognition guest entry, and a self-monitored security system.

Goodyear citizens average annual income is $85,000, 30% higher than the median household incomes in the Phoenix metro area.