Inland Finalizes $72M DST in Arizona

Inland Private Capital Corporation fully subscribed its $72 million Glendale BTR DST, acquiring a Class A build-to-rent community in Arizona featuring upscale homes and amenities, reflecting strong demand in the growing BTR sector.

October 01, 2024

Inland Private Capital Corporation (IPC) has successfully raised $72 million for its Glendale BTR DST, a Delaware statutory trust investment offering. The offering, now fully subscribed and closed to new investors, includes ownership of Onyx at Westgate, a Class A build-to-rent (BTR) community in Glendale, Arizona.

Developed in 2022, Onyx at Westgate is a single-family rental community featuring 58 one-bedroom duplexes, 85 two-bedroom detached homes, and 47 three-bedroom bungalows. The homes offer upscale amenities such as gourmet kitchens, stainless steel appliances, 10-foot ceilings, and smart home technology. Community facilities include a resort-style pool, fitness center, dog park, and more, with the property conveniently located near entertainment, shopping, and medical centers.

IPC’s senior vice president, Nati Kiferbaum, highlighted the growth potential in the BTR market, particularly in Arizona, driven by demographic trends and housing affordability issues.

Inland’s BTR portfolio currently manages over $1.19 billion in assets, with 13 properties and 2,686 units in Arizona alone. IPC, a member of The Inland Real Estate Group of Companies, manages a diverse portfolio of more than $12.3 billion in assets across 43 states.