Christopher Todd Capital has completed its first purchase of a newly completed Build-to-Rent (BTR) community in Avondale. The company, with offices in Arizona and Florida, purchased the community for approximately $57 million, which is well below what it would cost to build from the ground up today. The seller is the WestStone Group.
The Class A community at 1350 N. 117th Ave. includes 217 one- and two-bedroom homes. Its amenities include green belts, two resort-style pools, a 24-hour fitness center and direct access to Friendship Park.
Brent Long runs Christopher Todd Capital, a privately held family office and sister company of Christopher Todd Communities, which specializes in BTR cottage-style homes.
Christopher Todd Capital targets opportunistic properties in prime locations, from $20 to $80 million. These can include newly constructed or stabilized BTR, cottage-style and select multifamily properties. Currently, target markets include Phoenix, Florida, Texas, the Carolinas, and Utah.
The post Christopher Todd Picks 217-Unit Avondale BTR Project appeared first on Connect CRE.
Robert Khodadadian has long had a simple philosophy about selling real estate. There are approximately a million buildings in the city, and the broker that gets to sell any one among the multitude that will hit the auctioning block at a given moment is, sometimes, simply the person who happens to pitch their services to the right seller.
robert khodadadian, skyline properties, commercial real estate, off market real estate, daniel shirazi, real estate investment, new york real estate
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