Phoenix-Based Developer Sells South Mountain Single Family Rental Home Community for Record Price
Curve Development build-to-rent home community, Cyrene at South Mountain, sells for more than $35 million
Phoenix – Oct. 11, 2022 – Phoenix-based real estate developer Curve Development announced today the sale of its Cyrene at South Mountain single-family rental community. The 72-home community sits on 8.9 acres and closed for $35.44 million, garnering $492,222 per door – a milestone transaction for the area.
The community, located on S. 16th Street just south of Southern Ave., was the first sale of a completed community by Curve Development.
“This Curve Development sale further validates the tremendous value in the market for the high-quality leased-living experience that makes our Cyrene communities such a desirable alternative to a typical apartment rental,” said Nathan Pile, president, and owner of Curve Development.
Curve’s single family home design features controlled access entry, attached two-car garage, fully-fenced private backyard with maintenance-free landscaping, and high-end interior finishes. Every home offers SMART Technology which includes a control panel, doorbell, front door deadbolt, thermostat and a motion sensor.
“We are thrilled to prove the demand for the Curve business model. Our Cyrene product is sought after by renters, investors and municipalities,” said Pile.
Curve currently has four Cyrene communities that are now leasing/pre-leasing, and seven more projects underway at this time, for a total of 1,642 homes in the portfolio. They are in several markets across the country, including Phoenix, Sacramento, Tampa, Orlando and Dallas.
For more information about Cyrene at South Mountain, visit the website: https://www.mark-taylor.com/apartments/az/phoenix/cyrene-at-south-mountain/
Find out more about Curve Development on our website at www.curvedevelopment.com or on Facebook, Instagram, and LinkedIn.
About Curve Development
Curve Development, a national developer/builder based in Arizona developing single-family rental projects coast to coast, is funded by JEN Partners, LLC, a New York-based private equity fund. Over the past eight years, Curve’s Principal has built a long-standing relationship with JEN Partners. Curve is strategically positioned to offer a wide variety of investment opportunities on a national scale. Curve has financial resources and regional land partnerships to acquire and develop sites without the typical developer challenges. The company’s seasoned team of industry professionals and the JEN family of regional land developers has positioned Curve as an incomparable partner in real estate development with the agility, creativity and strength to create virtually limitless value. To learn more, visit https://curvedevelopment.com/