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Tampa Bay Business Journal (Jul 01, 2020)

Phoenix developer that builds single-family rental homes enters Florida market with land buy near Tampa
A Phoenix developer that builds single-family rental home communities has made its first Florida acquisition in the Tampa area - and is actively chasing more land deals.

NexMetro Communities paid $3.57 million for a 13-acre site in Odessa, in the northwest corner of State Road 54 and Crossings Boulevard, in a deal that closed June 22, according to Pasco County property records.

Infrastructure construction on the community - named Avilla Suncoast - began immediately, the developer said. It is planning 152 rental homes on the property, and vertical construction on model homes should begin in six to eight months, Josh Hartmann, CEO of NexMetro, told the Tampa Bay Business Journal.

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About Avilla Homes

A truly unique alternative to the typical rental experience, Avilla Homes neighborhoods feature single level, detached homes for lease in a gated enclave. The one, two and three-bedroom floor plans feature private entrances, outdoor patios and backyards, along with high-end finishes such as 10' ceilings, granite/quartz countertops, stainless steel appliances and more. The pet friendly communities offer the perks of neighborhood living with optional garages, resort-style pool, beautifully landscaped recreation areas, and even an electric car charging station - all maintained by a professional management company, without mortgage payments or HOA fees.

About NexMetro

NexMetro Communities is an innovative development company focused on building luxury leased home neighborhoods that serve lifestyle conscious consumers seeking a new home experience without the burdens of a mortgage. In partnership with its affiliated companies, NexMetro has developed Avilla Homes neighborhoods since 2010 in key Sunbelt locations. Combining elements of residential single-family living with rental terms and management, NexMetro provides a growing market niche of consumers a leased home experience like no other.

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