NexMetro to Deliver Phoenix-Area BTR Community
Avilla Foothills will mark the firm’s 25th property in the market.
NexMetro will open its 25th build-to-rent community across metro Phoenix by bringing online Avilla Foothills this month. The 108-home community is in Surprise, Ariz. Arbor Realty Trust funded the construction with a $29.2 million loan in 2024, Yardi Matrix data shows.
The property encompasses one-story, mostly detached homes that feature one- to three-bedroom layouts with private entrances, front porches and private backyards. Shared amenities comprise a swimming pool and a spa, as well as pet parks, among others.
Located on more than 9 acres at 12350 N. Cotton Lane, Avilla Foothills is less than 1 mile away from Loop 303 within Phoenix’s Northwest Valley, which, according to prepared remarks by NexMetro Regional Managing Director Jared Geisler, continues to attract residents and employers alike, generating strong demand.
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NexMetro’s BTR portfolio includes more than 60 communities completed or underway across the Sun Belt, including markets such as Phoenix, Dallas, Denver, Tampa, Fla., Atlanta and Austin, Texas—a metro where the company opened its first property just last year.
The firm’s expansion continued this year through the launch of Direct Access Fund 2026, with NexMetro aiming to raise $100 million for the development of four to six Avilla projects across at least three growth markets. The company will oversee site selection, entitlement, construction and execution.
Phoenix BTR deliveries to cool
The Valley of the Sun held more than 6,100 build-to-rent homes under construction across its pipeline mid-June, according to Yardi Matrix data. BTR completions throughout metro Phoenix are expected to reach 4,154 units this year, the data provider forecasts. However, BTR home deliveries are set to drop 11.7 percent in 2027.
A larger project in the metro is Arroyo Verde, a 400-unit build-to-rent development rising across nearly 100 acres in Buckeye, Ariz. American Homes 4 Rent broke ground early last year after obtaining city approval in 2023.
