Northmarq‘s Phoenix Multifamily Investment Sales team led by Ryan Boyle, Trevor Koskovich, Jesse Hudson and Logan Baca successfully led the collective $44.15 million sale of a pair of Phoenix-area build-to-rent (BTR) Class A communities totaling 91 homes.
The transactions included the $23 million sale of Bower Hudson Crossing — a 43-unit BTR community in Chandler, Arizona — as well as the $21.15 million sale of Bower Gateway, a 48-unit BTR community located in Mesa, Arizona. The blended price per unit was $485,164.
Northmarq represented the seller, Arcadia Capital Group and Platform Ventures. The buyer was Tricon Residential.
“Bower Hudson Crossing and Bower Gateway are two best in class build-to-rent assets in highly desirable submarkets,” Boyle said. “Arcadia Capital Group and Platform Ventures did an excellent job delivering two stabilized assets in high quality locations that generated a lot of demand from the market. Tricon was attracted to the opportunity to gain scale buying both communities to complement their existing portfolio.”
The Bower Hudson Crossing, built in 2024, is a fully occupied, 43-home detached BTR community on 6.3 acres in the highly sought-after Chandler submarket. The gated community features three- and four-bedroom homes with modern interiors, private backyards, and two-car garages pre-wired for EV chargers.
The Bower Gateway, built in 2022, is a 48-home detached BTR community located in one of Mesa’s most sought-after submarkets. The community features three- and four-bedroom homes with contemporary designs, private yards, two-car garages, and amenities including grass courtyards and landscaped walking trails.
Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales, loan servicing, and fund management. The company combines industry-leading capabilities with a flexible structure, enabling its national team of experienced professionals to create innovative solutions for clients. Northmarq’s solid foundation and entrepreneurial approach have built a loan servicing portfolio of more than $78 billion and a three-year transaction volume of $69.5 billion.
