The build-to-rent (BTR) sector in Arizona just notched another major deal.
JP Morgan has purchased Bella Encanta, a 212-unit luxury BTR community in East Mesa, for $95.75 million from Bela Flor Communities, as brokered by CBRE.
🏡 Key Details About Bella Encanta
- Location: East Hampton Ave, Mesa, AZ
- Unit Mix: Large 2-, 3-, 4-, and 5-bedroom duplex-style homes
- Completion: 2023, on a 23-acre gated site
- Interior Features:
- 10’ ceilings, plank flooring, smart thermostats, LED lighting
- Gourmet kitchens with granite, gas ranges, and Samsung/LG appliances
- Private 2-car garages with EV charging
- Community Amenities:
- Clubhouse with gym, climbing wall, and demo kitchen
- Pool, spas, cabanas, BBQ grotto
- Pickleball courts, sand volleyball, soccer field, and dog parks
💼 Why It Matters for Investors
- Reflects strong institutional interest in well-designed BTR communities in the Phoenix metro.
- According to CBRE, BTR sales hit $3.3B nationally in 2024, showing this model is scaling fast.
- Investors are increasingly attracted to resort-style rentals that blend SFR privacy with multifamily amenities.
📈 Takeaway for Arizona Investors
- Mesa’s East Valley continues to attract top-tier BTR development.
- High-end BTR communities like Bella Encanta command premium pricing and tenant demand.
- The BTR model is emerging as a high-demand, high-yield investment vehicle in the face of housing shortages.