Tower Capital Secures Funds for Single-Family Rental Community

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.