Sunstone Two Tree Expands Operations in an Emerging Market
Sunstone Two Tree, a prominent developer and operator of rental housing communities, is excited to announce the opening of a new office in Phoenix. This strategic move aims to bolster the company’s development pipeline, focusing on high-quality build-to-rent homes. By establishing a presence in Phoenix, Sunstone Two Tree is positioning itself to thrive within a rapidly growing market.
New Office Location: A Strategic Move
The newly established office will be based in The Promenade office park, providing crucial support for ongoing operations and facilitating the growth of several build-to-rent communities across the Phoenix metropolitan area. This location is integral to the company’s long-term strategy, as it helps streamline processes and fortify the connection with the local market.
Context of Expansion
CEO Scott Maddux expressed enthusiasm about this expansion, stating, "With hundreds of homes already developed and hundreds more in the pipeline, Phoenix is an extremely important market for us. Continued population and job growth and economic trends create challenges for home buyers. We are committed to providing high-quality, attainable rental options in the region. This office will significantly enhance our capabilities going forward."
Infrastructure of the New Office
The new space will house Sunstone Two Tree's construction and planning teams, underscoring its approach as a vertically integrated developer and operator. The in-house general contracting division plays a vital role in executing ongoing projects.
Current and Future Developments
Among the projects under construction is the 320-unit community known as Ironwood Homes at the Rosefield, as well as additional developments including Villas on Van Buren and Villas on 91st Street in Phoenix. Sunstone Two Tree also manages stabilized communities like Ironwood Homes at River Run in Avondale and the Sierra Verde community in Surprise.
Company Growth Amidst Challenges
Sunstone Two Tree's growth trajectory is impressive, especially considering the current economic climate. As other firms face challenges, Sunstone Two Tree has expanded its team and portfolio, indicating its resilience and adaptability in a fluctuating market.
Build-to-Rent Concept: A New Housing Solution
Each build-to-rent community combines the benefits of single-family living with the efficiency of rental properties. Tenants enjoy larger homes with yards, community amenities, and on-site management, making these communities ideal for both families and empty nesters.
About Sunstone Two Tree
Formed through the merger of Sunstone Properties Trust and Two Tree Capital, Sunstone Two Tree focuses on developing rental housing solutions across the United States. The company is committed to creating and managing safe, well-maintained rental communities that cater to a diverse clientele.
Contact Information
For media inquiries, please reach out to McKenzie Hyde at mckenzie@sunstonetwotree.com.
Frequently Asked Questions
What prompted Sunstone Two Tree to open a new office in Phoenix?
The new office is part of the company’s strategy to enhance its development pipeline and support its growing operations in the region.
What types of communities does Sunstone Two Tree focus on developing?
Sunstone Two Tree specializes in build-to-rent communities that provide single-family living experiences combined with rental benefits.
How does the new office support Sunstone Two Tree's growth?
The office will house key construction and planning teams, enabling the company to streamline operations and enhance project execution.
What is the significance of the Phoenix market for Sunstone Two Tree?
Phoenix is a vital market due to its strong population and job growth, which sustain demand for rental housing amid macroeconomic challenges.
Who can be contacted for more information about Sunstone Two Tree?
Media inquiries can be directed to McKenzie Hyde via email at mckenzie@sunstonetwotree.com.
