Company delivers homes at three new BTR communities, closes on 20-acre parcel in Buckeye and breaks ground in Mesa
PHOENIX, Dec. 30, 2025 — Sunstone Two Tree, a developer and operator of rental housing in high-growth U.S. markets, has provided an update on its Phoenix build-to-rent (BTR) portfolio. The company is currently delivering homes at three new Phoenix communities, which will collectively add over 550 rental homes upon full completion. Beyond these deliveries, the firm has also acquired a 20.86-acre site in Buckeye for a future 238-unit BTR community and has commenced construction on a new BTR development in Mesa.
“While the Phoenix metro area has experienced significant new rental housing supply in recent years, impacting market conditions, we believed there was a gap in the market,” stated Scott Maddux, CEO of Sunstone Two Tree. “We identified a need for rental homes that serve millennials who have moved beyond apartment living but find homeownership challenging in the current high-interest-rate climate. Our solution offers affordable three- and four-bedroom homes with two-car garages, backyards, and professional on-site management. This specific product type is scarce in Phoenix, leading to robust rental demand that supports our continued expansion with projects like Blue Horizons.”
The three communities currently delivering homes are situated in Waddell, Tolleson, and Phoenix. Plans for these communities were announced in September 2023, with construction starting the next month. The largest is a 29-acre development in Waddell, where 132 of the planned 320 homes have been delivered, and the remainder are expected by September 2026. This project is a joint venture with Capital Square.
At the Tolleson BTR community, 53 of the 143 planned townhomes have been delivered. In Phoenix, the company has completed the delivery of all 88 three-bedroom townhomes and their associated amenities.
In a separate venture with Capital Square, Sunstone Two Tree has secured a land parcel at the intersection of N. Jackrabbit Trail and W. Blue Horizons Parkway in Buckeye for a 238-unit BTR community, with construction set to begin in January. The company has also started construction on an additional BTR community in Mesa.
Sunstone Two Tree’s BTR communities offer detached single-family homes or townhomes, complete with attached garages, private yards, and amenities like pools, spas, fitness centers, parks, sports courts, and BBQ areas. All communities are professionally managed on-site and are strategically located near employment hubs, shopping, freeways, and Phoenix Sky Harbor Airport.
The company has been active in Arizona since 2020. To accommodate its expanding presence in the state, it established a Scottsdale office in July 2025, marking its second location outside its Los Angeles-area headquarters.
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About Sunstone Two Tree
Sunstone Two Tree is a vertically integrated real estate operator and developer concentrating on rental housing in high-growth markets across the United States. The company was created in 2023 from the merger of Sunstone Properties Trust, an owner, operator, and fund manager with a strong track record in multifamily investments since 2012, and Two Tree Capital, a specialist in acquiring and developing multi-family build-to-rent communities.
Sunstone Two Tree’s activities include acquiring, renovating, and managing existing multifamily properties, as well as developing purpose-built single-family rental communities. Headquartered in Westlake Village, CA, the company is committed to two primary goals: 1) safeguarding investor capital and achieving strong returns across economic cycles, and 2) providing safe, clean, and well-maintained rental homes for individuals and families.
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McKenzie Hyde
SOURCE Sunstone Two Tree