Christopher Todd Communities Offers Sizzling Multifamily Opportunity
PHOENIX, Sept. 25, 2019 /PRNewswire/ -- Build to Rent (BTR) is the hottest real estate sector, disrupting traditional rental living and investment options. Christopher Todd Communities (CTC) is an early innovator in this purpose-built segment having created a number of luxury, smart gated communities of single-story, single-family rental smart homes. Now, five of those Phoenix, Arizona assets - including 943 one- and two-bedroom homes - are being offered to investors.
"What Christopher Todd Communities has created is cutting edge in its type of product, technology and positioning in the marketplace. We've received strong response to our initial outreach," said Trevor Koskovich, President of NorthMarq Investment Sales, which is managing the offering. "Part of that is driven by the Christopher Todd Communities brand which has cultivated loyalty, strong leasing numbers and national recognition for its innovation."
"Our brand essence is 'pulling' renters in because we are delivering state-of-the-art single-story smart rental homes that allow them to feel less stressed, more secure and overall more comfortable in their daily lives," said Todd Wood, CEO of Christopher Todd Communities.
BTR communities have increased over 100 percent in the past couple of years, and are focused on amenities, which rival some 5-star hotels, all professionally managed. The renters span Millennials to Baby Boomers, people that could afford to buy but prefer the flexibility of renting in an innovative community.
Rent growth exceeds standard multifamily by 1.5 percent, and owners/operators experience less volatility due to less resident turnover, lower maintenance costs, and a strong demand to increasing home values.
Advantages:
- 4.5% year-over-year rent growth as compared to 3.0% for traditional multifamily Class A. CTC is experiencing 10-12% rent growth year-over-year.
- Cash flow and asset value growth are driven by strong multifamily supply/demand fundamentals.
The five pet-friendly communities included in the offering range in size from 136 homes to 313 homes, all have smart gated entries, professional management, event lawns and three have fitness centers and yoga studios on site. All homes have private backyards, doggy doors and smart home features including keyless door entry, security and climate control via smart phone or tablet, high-speed internet (1000/1000 mbps), high resident engagement and unprecedented lease up numbers and renewals.
For more information on the developer visit www.ChristopherToddProperties.com and for details on the offering contact NorthMarq in Phoenix https://www.northmarq.com/cities/phoenix/.
SOURCE Christopher Todd Properties
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