JLL Capital Markets has secured financing worth $300 million for NexMetro Communities for a build-to-rent portfolio across the Phoenix and Denver metro areas.The financing structure includes $160 million insurance capital invested and managed by Blackstone, plus a preferred equity investment from Artemis Real Estate Partners.JLL Capital Market’s Advisory team was led by President of Capital Markets Kevin MacKenzie, Senior Managing Directors Brad Miner and Michael Joseph and Managing Directors Matthew Putterman and Chris Shea.Phoenix-based NexMetro Communities is a pioneer in the build-to-rent sector, developing nearly 59 rental communities totaling 10,178 completed, under construction and in development, and a total investment of more than $2.6 billion to date.In metro Phoenix, NexMetro has completed or has under construction more than 4,100 homes.NexMetro has $1 billion worth of projects on its plate in several markets, including Arizona.The recapitalization allows NexMetro to continue its rapid growth and expansion in key Sun Belt markets, said Josh Hartmann, CEO of NexMetro.Meanwhile, Scottsdale-based Tower …
See the full Home Prices article, or, read more Arizona real estate investing news. Go ahead. You know you want to.
