Inland Real Estate Acquires Five Rental Home Properties in Metro Phoenix
SURPRISE, TOLLESON, LITCHFIELD PARK AND PHOENIX, ARIZ. — Oak Brook, Ill.-based Inland Real Estate Acquisitions, on behalf of an affiliate of The Inland Real Estate Group of Companies, has acquired five Christopher Todd Communities in the Phoenix metro area. The portfolio includes 943 single-family rental homes.
Three communities — Christopher Todd Communities On Greenway in Surprise, Christopher Todd Communities At Country Park in Tolleson and Christopher Todd Communities On Camelback in Litchfield Park — were included in the closing on Friday, March 13. The purchase of Christopher Todd Communities At Marley Park in Surprise and Christopher Todd Communities At Stadium in Phoenix are pending and slated to close in the near future.
The communities were the first Christopher Todd Communities to be constructed as the company began its development of “smart-gated” communities offering pet-friendly one- and two-bedroom, single-family homes with private backyards and resort-style luxury amenities.
Trevor Koskovich, Jesse Hudson and Bill Hahn of NorthMarq represented the buyer and seller in the deal. James DuMars and Griffin Martin of NorthMarq’s Phoenix office arranged acquisition financing for the buyer.