Curve Development’s Cyrene at Estrella BTR community sells for $400,000 per door
PHOENIX – Nov. 7, 2023 – Phoenix-based developer Curve Development sold its Cyrene at Estrella single-family rental community, located near Interstate 10 and Estrella Parkway in Goodyear, for more than $25 million today.
The 64-home built–to-rent detached home community sits on 7.7 acres of land in the highly desirable Estrella neighborhood at 15430 W Baden Street in Goodyear, Ariz., and was completed in late summer 2022.
Curve's single-family home design features controlled access entry, an attached two-car garage, a fully fenced private backyard with maintenance-free landscaping, and high-end interior finishes. Every home offers SMART Technology, which includes a control panel, doorbell, front door deadbolt, thermostat, and a motion sensor.
“Curve Development is proud to develop single-family rental communities across the U.S. This is our second sale in the Phoenix market, and it once again shows the tremendous value in the market for the high quality leased-living experience. We know our Cyrene communities provide a highly desirable alternative to a homeownership,” said Nathan Pile, president, and owner of Curve Development.
Cyrene at Estrella offers an on-site dog park, community playground, community lawn space and grilling area, top-rated nearby schools, world-class golf courses, easy access to community parks and numerous shopping and retail centers. The modern home design and unique architecture include hardwood-inspired plank flooring, entertainment-style kitchen islands, stainless steel appliances, quartz kitchen countertops, and artisan front doors. The single-family rental community offers the benefits and privacy of a detached home without the stresses of homeownership.
The community comprises both three- and four-bedroom detached home options with internet service included in rent. The community is pet-friendly and is minutes from Estrella Mountain Regional Park and the Goodyear Ballpark spring training baseball facility.
The developer sold its Cyrene at South Mountain single family rental community in October 2022. The 72-home community sits on 8.9 acres and closed for $35.5 million, garnering $493,000 per door – a milestone transaction for the area.
Curve currently holds three other built-to-rent communities in the company’s portfolio, with five new communities in the pipeline.