Transaction marks the continued expansion of both Build-To-Rent brands

SURPRISE, Ariz. (Nov. 25, 2025) – Christopher Todd Capital acquired from Taylor Morrison Yardly Paradisi, a 193-home Build-To-Rent (BTR) community located in Surprise, Arizona.

The seller, Taylor Morrison, is one of the nation’s leading homebuilders, which, along with its for-sale business, acquires and develops newly constructed for-rent housing communities under its Yardly brand. The sale of Yardly Paradisi continues the company’s commitment to constructing, stabilizing, and monetizing projects to generate funds that can be redeployed to future Yardly communities to serve a consumer who appreciates the quality, design, and best-in-class execution of the purpose-built “Build-To-Rent” niche.

The buyer, Christopher Todd Capital, is a leading Build-To-Rent operator and investor known for its innovative approach to single-family rental living. Through its flagship Christopher Todd Communities brand, the company has redefined the BTR experience with high-quality, amenity-rich neighborhoods designed for long-term operation, resident connection, and lifestyle convenience. The acquisition of Paradisi continues Christopher Todd Capital’s national growth strategy, expanding its Arizona footprint while reinforcing its commitment to acquire, enhance, and hold premium BTR assets.

Northmarq’s Phoenix-based Investment Sales team, led by Trevor Koskovich, Jesse Hudson, and Logan Baca, represented the seller, Taylor Morrison. Brandon Harrington, Bryan Mummaw, Bryan Liu, Christopher Gitibin, and Tyler Woodard of Northmarq’s Debt + Equity platform arranged $32.76 million in acquisition financing on behalf of the buyer.

Yardly Paradisi will be rebranded under the Christopher Todd Communities umbrella as Christopher Todd Communities Paradisi, reflecting the company’s continued commitment to elevate the standard of purpose-built rental living.

“Yardly Paradisi is a standout asset in Phoenix’s West Valley for many reasons and we are excited to pass the reins to a trusted buyer who recognizes the value born out of the vision and hard work of a dedicated development and lease up team,” said Darin Rowe, President of Yardly. “Municipalities, exit buyers and certainly our consumers, as reflected via impressive Google ratings for Yardly communities, are appreciative of this diverse housing product type that blends the best of single-family, and apartment living and helps solve our national need for housing.”

“We are thrilled to add Paradisi to the Christopher Todd Capital portfolio,” said Todd Wood, Founder and CEO of Christopher Todd Communities. “Taylor Morrison is a respected national builder known for its quality and thoughtful design — this community exemplifies those traits and aligns perfectly with our brand’s promise of quality, comfort, and connection. We look forward to enhancing it further under our ownership.”

“The capital markets continue to embrace cottage-style Build-To-Rent communities,” added Brent Long, President of Christopher Todd Capital and Christopher Todd Communities. “We had many strong financing options for this acquisition and strategically selected a leading global insurance company as our lender, underscoring the confidence institutional capital has in this asset class and in our platform.”

Developed in 2024, the gated community features resort-style amenities including a fitness center, heated pool, dog park with agility equipment, and private backyards for each home. With its proximity to Loop 303 and the Village at Prasada, residents benefit from convenient access to employment centers and retail destinations throughout the West Valley.

“Both Taylor Morrison and Christopher Todd Communities are valued Northmarq clients with clear long-term strategies that result in high quality, tastefully executed BTR assets that consumers demand,” said Trevor Koskovich, President of Northmarq’s Investment Sales. “Paradisi represents one of many existing and future BTR communities across a national footprint.”

Senior Director Ryan Boyle

Phoenix, Arizona (November 25, 2025) – Berkadia, a distinguished leader in the commercial real estate sector, is pleased to announce the addition of Senior Director Ryan Boyle to its Investment Sales platform in Phoenix, Arizona. Reporting to SVP – Head of Investment Sales, Mike Miner, Boyle began his role on October 27.

Boyle will partner with Senior Managing Director Mark Forrester and Managing Director Andrew Curtis, working closely with all Berkadia Investment Sales Advisors in Phoenix. He specializes in middle market apartment sales and has extensive experience in the SFR/BTR space throughout Arizona, bringing 10 years of experience in commercial real estate.

“We are excited to welcome Ryan to the investment sales platform,” said Miner. “His experience in the SFR/BTR and multifamily sectors will enhance our existing capabilities in Arizona. Ryan’s proven track record and deep understanding of the market dynamics will be invaluable as we continue to expand our presence and deliver exceptional service to our clients.”

Prior to joining Berkadia, Boyle was a Vice President at Northmarq Multifamily. In his role, he specialized in middle-market apartment sales and BTR/SFR property sales.

Boyle attended Arizona State University, where he earned his Bachelor of Arts in Communications, and is a licensed agent with the Arizona Department of Real Estate.

Rose Garden Apartments Completes Final Acquisition of Phased Assemblage, Places Permanent Debt on Stabilized Asset; Agency Loan Offers Interest-Only Terms, Improving Rate Climate Maximize Proceeds

Phoenix, Ariz. (November 25, 2025) – Gantry, the largest independent commercial mortgage firm in the U.S., has secured an $8.5 million permanent loan to refinance the Rose Garden Apartments located at 21008 N 23rd Ave in Phoenix. The class B garden-style apartment community includes 55 units, featuring a mix of one- and two-bedroom floor plans.

Gantry’s Adam Parker, Principal, Chad Metzger, Senior Associate, and Andrew Christopherson, Associate, with the firm’s Phoenix production office, represented the borrower, a private real estate investor. The 10-year, fixed-rate loan was secured from Fannie Mae and features a half-term interest-only transitioning to 30-year amortization at year six.

According to Gantry’s Adam Parker, “On every client assignment, Gantry’s goal is to identify the best financing option to meet a client’s specific investment plan. This new agency loan provided the Sponsor with some cash-out while also lowering the Sponsor’s interest rate.  Even at a higher loan amount, the new 10-year fixed rate loan provided a lower annual payment which meant more cash flow for the Sponsor.  The combination of cash-out dollars, lower annual payment, and a 10-year fixed rate met all the borrower’s requests.”