Capital Square Fully Capitalizes Build-For-Rent Community in Glendale, Arizona

Capital Square announced the full capitalization of its offering, Capital Square Glendale BFR, LLC, a 320-unit build-for-rent community in Glendale, Arizona, raising over $43 million in equity from investors. The project, developed in partnership with Sunstone Two Tree, will be known as Ironwood Homes at The Rosefield upon completion. Located at the southeast corner of Northern Parkway and N. Sarival Avenue, the community will feature 102 detached single-family homes and 218 townhomes, with amenities including a pool, spa, fitness center, and sports courts.

Construction is expected to be completed by the third quarter of 2026, with approximately 10% of the units already delivered and leasing underway. The development's location offers residents access to The Village at Prasada shopping center, downtown Phoenix, Phoenix Sky Harbor International Airport, and Luke Air Force Base, alongside the adjacent Desert Diamond Casino.

The success of this project underscores the robust demand for build-for-rent communities in strategic locations like Glendale, supported by strong economic fundamentals and a partnership with Sunstone Two Tree. Phoenix's status as a top-performing single-family rental market, with rent growth of 30% since March 2020, further validates the investment's potential.