NexMetro Communities, Trez Capital to Develop $100M Multifamily Portfolio
The NexMetro communities will debut in 2018 in Denver, Phoenix and Dallas.
DENVER — NexMetro Communities and Trez Capital have partnered to develop five of NexMetro’s Avilla Homes communities in a deal worth more than $100 million. The communities will debut in 2018 in Denver, Phoenix and Dallas.
NexMetro Communities is a developer of luxury leased housing communities, while Trez Capital is a private non-bank lender. NexMetro, which currently has more than 2,600 units either built, under construction or under contract, has already closed on two of the initial five Class A projects with Trez.
This endeavor was inspired by the National Multifamily Housing Council’s announcement that about 4 million new apartments will be needed by 2030 to keep up with demand.