GILBERT, Ariz. (June 27, 2025) – Berkadia, a leading force in U.S. commercial real estate, has successfully brokered the sale of The Bungalows at San Tan Village, a 159-unit Build-to-Rent BTR community in Gilbert, Arizona. The transaction was led by Senior Managing Directors Mark Forrester and Ric Holway and Managing Directors Andrew Curtis and Dan Cheyne of Berkadia’s Phoenix office. The seller, Arizona-based Cavan Companies, sold the property to AEW Capital Management, headquartered in Massachusetts. The deal closed on June 10, 2025, with the community 97% occupied at the time of sale.
“Cavan Companies delivered an exceptional Build-to-Rent community within a high-barrier submarket of Gilbert,” said Forrester.
Strategically located along the Loop 202 Freeway, The Bungalows at San Tan Village offers residents exceptional access to the East Valley’s expanding employment base, renowned school districts, parks, and a high quality of life—factors that contribute to Gilbert’s emergence as one of Metro Phoenix’s top suburban housing markets.
“AEW was attracted to this quality BTR asset due to its highly amenitized location and low-density product in a growing commercial corridor,” said Craig Mattison, Director at AEW Capital’s L.A. acquisition team. “BTR offers a vital housing alternative, and this acquisition aligns with our strategy to expand residential exposure in top-tier markets positioned for long-term growth.”
BTR Market Momentum in the East Valley
This transaction highlights the ongoing institutional demand for low-density, horizontal rental housing across Arizona.
“This sale reflects the strong appeal of cottage-style Build-to-Rent product for both residents and investors,” said Curtis.
“The Bungalows at San Tan Village set a high benchmark for performance and pricing in the BTR sector,” added Dave Cavan, Owner & Chairman of Cavan Companies.
Property Overview: The Bungalows at San Tan Village
Completed in 2024, The Bungalows at San Tan Village delivers Class A horizontal living with a mix of one-, two-, and three-bedroom single-story units. Each unit features:
- 10-foot ceilings
- Private backyards with covered patios
- Smart home technology
- Open-concept floorplans
Residents also enjoy premium amenities, including:
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A clubhouse with fitness studio
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Resort-style lap pool and spa
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Oversized private dog park
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Half-mile walking trail
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Modern playground
The community’s design caters to renters seeking the privacy of a detached home with the convenience of professional management and resort-caliber amenities.
For more information on Build-to-Rent investment opportunities in Arizona, visit www.berkadia.com.