Tower Capital has secured $44.5 million in funding for the development of The Elux at Deer Valley, a community of 212 single-family rental homes. The property underscores the demand for single-family rentals in the Phoenix market.

Located at 19th Avenue and Happy Valley Road, the property will feature workout facility, clubhouse, a resort style pool, a dog park and a gated entrance. The units will include premium countertops, stainless steel appliances, nine-foot ceilings, smart home technology and private yards.

The first units will become available mid-2020.

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Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.

Phoenix
Multifamily
Capital Markets
West