Inland Real Estate Acquisitions is expanding its presence in the Phoenix build-to-rent sector with its two latest acquisitions. The company acquired TerraLane at Canyon Trails for $119.7 million and TerraLane at South Mountain for $66.2 million from RSI Holding LLC. Northmarq’s Trevor Koskovich, Bill Hahn, Jesse Hudson and Ryan Boyle brokered the transaction.
The two properties were built by Hancock Homes on behalf of TerraLane in 2021 and feature one- and two-bedroom units that range from 642 to 995 square feet. Both of the communities include smart home tech packages with fiber optic 1GB internet, Wi-Fi routers pre-installed in each unit, facial recognition guest entry, self-monitored security and a smart home app to control everything. The communities share similar common amenities as well, both offering a pool, jacuzzi, outdoor deck and barbecue grilling stations.
Read the full press release at the link below