CHANDLER AND MESA, ARIZ. — Arcadia Capital Group and Platform Ventures have completed the disposition of two build-to-rent (BTR) Class A communities, totaling 91 homes, in metro Phoenix. Tricon Residential acquired the assets for $44.1 million. The transactions include the $23 million sale of Bower Hudson Crossing, a 43-unit BTR community in Chandler; and the $21.1 million sale of Bower Gateway, a 48-unit BTR property in Mesa. The blended price per unit was $485,164.
Built in 2024, Bower Hudson Crossing features three- and four-bedroom homes with modern interiors, private backyards and two-car garages pre-wired for electric vehicle chargers. At the time of sale, the property was fully occupied. Built in 2022, Bower Gateway offers three- and four-bedroom residences with contemporary designs, private yards, two-car garages, grass courtyards and landscaped walking trails.
Ryan Boyle, Trevor Koskovich, Jesse Hudson and Logan Baca of Northmarq represented the sellers in the deal.