Scottsdale-Based Company Enters Into Build-to-Rent Joint Venture

By Angela Gonzales | Phoenix Business Journal

Two firms that are entering the build-to-rent sector have formed a joint venture to build several projects together.

Scottsdale-based Walton Global Holdings USA and Phoenix-based SVN | SFR Capital Management plan to build and operate these communities nationwide.

These homes will be built within Walton Global Holdings’ existing master-planned communities throughout the country, starting in Texas and Colorado, said Jeff Cline, founder of SVN | SFR Capital Management.

Walton Global Holdings owns 81,000 acres nationwide, including 17 master-planned communities. A section of each of these communities would be carved out for these rental communities similar to the way traditional garden apartment communities are built within master-planned communities.

On June 22, when Paul Megler, executive vice president of Walton Global Holdings, announced the company’s plans to develop 2,500 single-family rental units across the country, he said he was in talks with homebuilders, apartment developers and others in the business to create joint ventures to develop these communities.

Cline said it’s too soon to determine how many units his joint venture will build. He also said the joint venture’s first project in Arizona wouldn’t come until after 2022.

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