Capital Square Advances Build-for-Rent Community Development Near Phoenix

Capital Square, a prominent name in tax-advantaged real estate investments, has made significant strides with its latest project, achieving full capitalization of its build-for-rent community, Ironwood Homes at The Rosefield, in Glendale, Arizona. This initiative highlights a growing trend in sustainable housing developments that cater to the increasing demand for rental options in desirable neighborhoods.

Project Overview

On July 16, 2025, Capital Square announced that its investment vehicle, Capital Square Glendale BFR, LLC, successfully raised over $43 million in equity for this ambitious 320-unit community. With Louis Rogers at the helm as CEO, the project aims to provide quality housing solutions while maximizing financial returns for investors.

Located strategically at the intersection of Northern Parkway and N. Sarival Avenue, Ironwood Homes is set to feature 102 detached single-family homes, each averaging 1,655 square feet, accompanied by 218 townhomes averaging 1,257 square feet. Designed with modern living in mind, all residences will offer two-story layouts, direct garage access, and private yards, catering to families and individuals seeking a blend of comfort and convenience.

Community amenities will round out the living experience, with plans for a pool, spa, fitness center, parks, BBQ areas, gated entry, and sports courts, promoting an active and engaged lifestyle for residents. Construction is on track for completion in the third quarter of 2026, with approximately 10% of the units already delivered and leasing currently underway.

Importance of Location

Ironwood Homes at The Rosefield is not only notable for its stylish design but also for its prime location, approximately four miles southeast of a major outdoor retail center, The Village at Prasada, which houses popular brands like Sprouts Farmers Market and TJ Maxx. This proximity enhances the community’s appeal, as residents will have easy access to shopping, dining, and entertainment options. Furthermore, significant infrastructure, including downtown Phoenix and Phoenix Sky Harbor International Airport, along with Luke Air Force Base, ensures convenient transportation and connectivity.

Also in close proximity is the Desert Diamond Casino, a notable addition that further enriches the local landscape with a variety of amenities including fine dining and entertainment venues.

Market Dynamics

The demand for well-crafted build-for-rent communities is on the rise, as evidenced by the success of this latest offering. Whitson Huffman, co-CEO and CIO of Capital Square, emphasized the robust economic fundamentals that signal a bright future for such developments. With rental prices in the Phoenix area having surged approximately 30% since March 2020, Ironwood Homes is positioned to capitalize on this upward trend in rental investment markets.

The Glendale industrial area is bustling with growth, boasting 16.3 million square feet of logistics space under construction, including a notable four million-square-foot logistics park near the site. These developments suggest a thriving economy that will drive further demand for housing in the area, reinforcing the viability of Capital Square’s investment.

About Capital Square

Founded in 2012, Capital Square has identified and leveraged significant trends in real estate, completing transactions amounting to over $7.9 billion to date. The company is dedicated to providing strategic investment opportunities and has been recognized as one of the fastest-growing companies by Inc. 5000 for eight consecutive years. Its rigorous approach to property management and development processes sets it apart as a leader in the industry, with over 13,000 managed apartments nationwide.

In conclusion, Ironwood Homes at The Rosefield marks yet another milestone in Capital Square’s repertoire, showcasing innovative responses to housing challenges while promising value to investors. As urban areas like Glendale continue to thrive, developments like this are essential in shaping the future of sustainable rental communities.