Capital Square Successfully Capitalizes Single-Family Build-For-Rent Community Near Phoenix

PHOENIX, July 16, 2025 /PRNewswire/ -- Capital Square, one of the nation's leading sponsors of tax-advantaged real estate investments and an active developer and manager of housing communities, announced today that its offering, Capital Square Glendale BFR, LLC, has been fully capitalized. The Regulation D private placement, consisting of a 320-unit build-for-rent community in Glendale, Arizona, raised over $43 million in equity from investors. Capital Square has partnered with Sunstone Two Tree as co-developer of the project, which will become Ironwood Homes at The Rosefield upon completion.

"This is another successful build-for-rent project by Capital Square," said Louis Rogers, founder and co-chief executive officer of Capital Square. "This exceptional BFR community has been partially delivered with final completion expected under budget and on time."

Located at the southeast corner of Northern Parkway and N. Sarival Avenue, Ironwood Homes at The Rosefield will include 102 detached single-family homes, averaging 1,655 square feet, and 218 townhomes, averaging 1,257 square feet. Each home's design features two stories, direct garage access and a private yard. Community amenities will include a pool, spa, fitness center, parks, BBQs, gated entry, and sports courts.

While construction is expected to be completed during the third quarter of 2026, approximately 10% of the project's units have recently been delivered. Leasing and initial move-ins are underway.

Approximately four miles southeast of Ironwood Homes at The Rosefield is The Village at Prasada, an outdoor shopping center with a Sprouts Farmers Market, Ulta Beauty, TJ Maxx, Marshalls, PetSmart, and other popular retail outlets. Residents will also have easy access to downtown Phoenix, Phoenix Sky Harbor International Airport, and Luke Air Force Base. Adjacent to the property is Desert Diamond Casino, a $450 million facility completed in 2024 that features a fine dining restaurant, food court, conference center, and amphitheater.

"The success of this offering underscores the growing demand for well-designed, build-for-rent communities in prime locations like Glendale," said Whitson Huffman, co-chief executive officer and chief investment officer of Capital Square. "With strong economic fundamentals and a strategic partnership with Sunstone Two Tree, this development is poised to provide high-quality housing while delivering value to our investors."

Phoenix is the 10^th largest metropolitan statistical area in the U.S., with about five million residents.¹  This is a top performing single-family rental investment market with rent growth of 30% since March 2020, the highest in the U.S.² The Glendale industrial submarket has 16.3 million square feet of logistics space currently under construction, including a recently approved four million-square-foot logistics park along Loop 303 just north of the site in Glendale.³

Sources: 1. Census, 2022. | 2. John Burns, 2023. | 3. Phoenix Business Journal, 2022.

About Capital Square
Capital Square is a vertically integrated, national real estate firm specializing in tax-advantaged real estate investments, including Delaware statutory trusts for Section 1031 exchanges, qualified opportunity zone funds for tax deferral and exclusion and a real estate investment trust (REIT). The company is also an active developer and manager of multifamily communities. Since 2012, Capital Square has completed more than $7.9 billion in transaction volume. Capital Square's mixed-use development projects total over 2,000 apartment units with a total development value in excess of $800 million, and Capital Square Living, the firm's property management division, now manages over 13,000 apartments across multiple states. Capital Square's related entities provide a range of services – including due diligence, acquisition, loan sourcing, property/asset management and disposition – for a growing number of high-net-worth investors, private equity firms, family offices and institutional investors. The company has been recognized by Inc. 5000 as one of the fastest growing companies in the nation for eight consecutive years. Learn more at CapitalSq.com.

Disclosure
Securities offered through WealthForge Securities, LLC, Member FINRA/SIPC. Capital Square and WealthForge Securities, LLC are separate entities. There are material risks associated with investing in DST properties and real estate securities including illiquidity, tenant vacancies, general market conditions and competition, lack of operating history, interest rate risks, the risk of new supply coming to market and softening rental rates, general risks of owning/operating commercial and multifamily properties, short term leases associated with multifamily properties, financing risks, potential adverse tax consequences, general economic risks, development risks, long hold periods, and potential loss of the entire investment principal. Past performance is not a guarantee of future results. Potential cash flow, returns, and appreciation are not guaranteed. IRC Section 1031 is a complex tax concept; consult your legal or tax professional regarding the specifics of your particular situation. This is not a solicitation or an offer to sell any securities. Please read the Private Placement Memorandum (PPM) in its entirety, paying careful attention to the risk section prior to investing. Private placements are speculative. Diversification does not guarantee profits or protect against losses. FINRA Broker Check link: https://brokercheck.finra.org/.

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SOURCE Capital Square