Sunstone Two Tree Fuels Growth Across Phoenix Build-To-Rent Portfolio
Company delivers homes at three new BTR communities, closes on 20-acre parcel in Buckeye and breaks ground in Mesa
PHOENIX, Dec. 30, 2025 /PRNewswire/ -- Sunstone Two Tree, a developer and operator of rental housing communities in high-growth markets across the United States, today announced updates across its Phoenix build-to-rent (BTR) portfolio. In addition to its existing portfolio of BTR developments in the area, the company is now delivering homes across three new communities in Phoenix. When fully delivered, they will total more than 550 new rental homes. In addition to delivering new homes, the company has closed on a new 20.86-acre lot in Buckeye where it will build a 238-unit BTR community. Finally, it has broken ground on a BTR development in Mesa.
"It is no secret that over the past several years, the Phoenix MSA has seen elevated rental housing deliveries, which has weighed on operating fundamentals," said Scott Maddux, CEO of Sunstone Two Tree. "In the midst of this challenging dynamic, we have always felt like the market was underserved for rental product that caters to the growing millennial generation, which has outgrown apartment living but is also unable to purchase a home in today's elevated interest rate environment. Our product meets that need by providing affordable homes with three and four bedrooms, two-car garages and backyards with onsite, professional management. That type of product is much more limited in Phoenix and, as a result, we have seen strong rental performance which allows us to move forward on subsequent developments like Blue Horizons."
The three communities where Sunstone is now delivering homes are located in Waddell, Tolleson and Phoenix. Sunstone Two Tree announced plans for the three new communities in September 2023 and began construction the following month. The largest of the three is a 29-acre project called Ironwood Homes at the Rosefield in Waddell. The company has delivered 132 of the 320 planned homes so far and expects to deliver the rest by September 2026. The project is being developed in collaboration with Capital Square.
Sunstone Two Tree's build-to-rent community in Tolleson, known as Villas on Van Buren, has delivered 53 of the 143 planned townhomes. Finally, at the Villas at 91st community in Phoenix, Sunstone has fully delivered the 88 three-bedroom townhomes and community amenities.
Also with Capital Square, Sunstone Two Tree has closed on a new plot of land at the intersection of N. Jackrabbit Trail and W. Blue Horizons Parkway in Buckeye, where it has plans to develop a 238-unit build-to-rent community. Construction on that project will commence in January. Finally, Sunstone has broken ground on another BTR community in Mesa.
Sunstone Two Tree's build-to-rent developments feature either detached single-family homes or townhomes, attached garages, private yards and amenities such as pools, spas, fitness centers, parks, sports courts, and BBQ areas. They are all professionally managed on-site and conveniently located to employment and shopping centers, freeways and the Phoenix Sky Harbor Airport.
Sunstone Two Tree has had operations in Arizona since 2020. To better support its growing operations in the state, it opened an office in Scottsdale – its second outside of its Los Angeles-based headquarters – in July 2025.
For more information, visit https://sunstonetwotree.com/.
About Sunstone Two Tree
Sunstone Two Tree is a vertically integrated real estate operator and developer focused on rental housing in high growth markets throughout the United States. Sunstone Two Tree was formed in 2023 as a result of the merger between Sunstone Properties Trust, an owner, operator and fund manager founded in 2012 with deep expertise and a successful track record in multifamily investments, and Two Tree Capital, an acquirer and developer of multi-family build-to-rent (BTR) communities.
Sunstone Two Tree acquires, renovates and manages existing multifamily assets while developing dedicated single-family rental communities. Sunstone Two Tree is based in Westlake Village, CA is driven by a two-fold mission: 1) to protect investor capital and deliver compelling returns through every phase of the economic cycle and 2) to create and operate safe, clean, and well-maintained rental communities for individuals and families.
Media Contact:
McKenzie Hyde
mckenzie@sunstonetwotree.com
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SOURCE Sunstone Two Tree