“You miss 100 percent of the shots you never take, and if you think it’s expensive to hire a professional to do the job, wait until you hire an amateur”. 


Publish Date: 02-10-2017


Phoenix area – Following a trend that shows an increasing number of single-family homes in the U.S. being occupied by renters, there is a parallel pattern traceable to a spike in demand from those wanting to live in newly-built residences in traditional neighborhoods without having to buy the houses. While there are varying explanations for the 50-year low in the rate of home ownership in the country, most agree it is a good time to own single-family rental properties in the Valley and other markets. The number of renter households in the country increased by 9 million between 2005 and 2015, representing the largest increase over any 10-year period on record, according to the Harvard Joint Center for Housing Studies. In 2016, roughly 5 percent of all newly-built homes were constructed for renters. That market share becomes more impressive when considering the historical average is less than 3 percent. In the first part of this story (see related story HERE), BREWreported BlankBerger of Scottsdale finding a niche developing single-family rental housing in the Valley through its subsidiary BB Living Residential LLC. The individually-platted units, which are being built by BlankBerger, a subsidiary of Higley Homes, fall within a new sub-category of single-family rentals called “build-to-rent.” BlankBerger was formed by investors Matt Blank and Sam Blank of Blank Property Group LLC in New York City, N.Y. and Darryl Berger of Berger Holdings LLC in Scottsdale. After building 300 units in the Phoenix area in 2016 with its BB Living Residential brand, BlankBerger plans to develop 500 homes in 2017. BB Living has deals pending to acquire land in the Valley targeted for several hundred additional build-to-rent units. BlankBerger is scouring the Phoenix area looking for 10- to 20-acre parcels of land suitable for high-density residential with 100 to 200 units . . . prefers master-planned communities with significant amenities. The BB Living Residential founders are on a different track than the one they first started down several years ago when the opportunistic investors were buying distressed residential properties in the Phoenix market. The company now has a clear-cut strategy with a promising business model. The Blanks and Berger are “laser-focused” on managing the 685 single-family rental units either completed or planned in five BB Living Residential projects and “finding prime land for future development.” BlankBerger has evolved over the past five years, developing single-family rentals in three of the top-selling master-planned communities in the Valley. The company has come upon its success honestly. “We stumbled into this niche,” says Berger. “We started the business in 2011 by acquiring existing, scattered single-family rentals throughout the Valley. We were attracted to the notion of building a concentration of single-family rentals in one community, especially new homes. We were pioneering, but our first project was highly successful and we grew from there.” So far, BlankBerger is pretty much flying solo in the Valley as a developer of single-family rental homes that can be leased and held for investment, sold to individuals or sold in bulk to a highly-competitive group of private and institutional investors. “In the Valley we do not currently have competition for what we do, which is to build a “horizontal apartment” of single-family platted rental homes,” says Berger. “We describe our product as “horizontal apartment” as it differs from a traditional stacked-flat apartment building where units are on top of one another, where there are typically no attached garages, and where the units are platted multi-family instead of single-family, meaning that they can’t be sold individually.” NexMetro Development LLC in Phoenix may be the closest competitor to BlankBerger and BB Living. That privately-owned company, headed by Ken Abrahams, has been successful developing build-to-rent product in communities with the Avilla Homes brand name. NexMetro also develops a “horizontal apartment” but its projects are platted multi-family instead of single-family, which excludes the possibility of individual sales. The Avilla Homes residences are also smaller (600 sq. ft. to 1,250 sq. ft.) and they do not have attached garages, but they do have private backyards. The company has more than 1,500 units either completed, under construction or under contract in the Valley. NexMetro is in the process of selling Avilla Palm Valley, a 125-unit project in Goodyear that the company developed in 2015. Berkadia is marketing the project as a multi-family asset. NexMetro built 400 units in the Phoenix area in 2016, and plans to deliver another 500 homes in 2017. NexMetro is now leasing from three active projects in the Valley and is underway with construction on five other communities. The company also develops build-to-rent complexes in Tucson and Dallas, Tex. “Avilla Homes offer a lifestyle choice,” says Josh Hartmann, chief operating officer at NexMetro. “It’s for those who want to live in a new home, but don’t want the burden of maintenance and constraints of a mortgage.” The build-to-rent market has been growing significantly over the past several years. With a portfolio of 48,431 units in the U.S., Invitation Homes Inc. in Dallas, Tex. (NYSE:INVH) is the country’s largest single-family home rental company. Blackstone Group L.P. in New York City, N.Y. (NYSE:BX), which manages $102 billion in real estate assets around the world, started Invitation Homes in 2012 by acquiring large pools of foreclosed homes. The global investment firm began buying the residences in bulk about five years after the housing market started to crash. Blackstone Group and other institutional investors were able to scoop up tens of thousands of foreclosed homes at significant discounts and repositioned the residences as rental properties. Invitation Homes owns rentals in nine states, predominantly located in the southeastern and western U.S., including the Phoenix area. Housing markets throughout the country have stabilized in recent years, prices have been rising steadily and the large pools of lender-owned homes have dried up. Two weeks ago, Invitation Homes raised $1.54 billion in an initial public offering after Blackstone Group took the company public. Shares in the company began trading on the New York Stock Exchange on Feb. 1. Three weeks ago, Fannie Mae announced that it will be backing up to $1 billion in debt held by Invitation Homes. This is the first time the government-controlled company has agreed to guarantee the debt of an institutional owner of single-family homes. The move suggests Fannie Mae believes home ownership will remain out of reach for many people and ultimately will make it cheaper for buyers like Invitation Homes to acquire more inventory. As of Sept. 30, 2016, American Homes 4 Rent in Agoura Hills, Calif. (NYSE:AMH) owned 48,153 single-family residences in 22 states, and Colony Starwood Homes in Scottsdale (NYSE:SFR) owned 30,000 + units in nine states. Progress Residential, another Scottsdale-based firm, owns the fourth largest pool of U.S. homes with 20,000 + units in 10 states. Find out more from the principals of BlankBerger by calling (480) 922-5965.




Now is the time, if you are thinking of selling or purchasing your Land or Commercial Building in Phoenix, Scottsdale, Maricopa County, Pinal County, Arizona / Office  / Retail  / Industrial  / Multi-family /  please call me on my cell 520-975-5207 or e-mail me

Phoenix Commercial Real Estate and Investment Real Estate: Investors and Owner / Users need to really know the market today before making a move in owner user Commercial Properties, Investment Properties and land in Phoenix / Maricopa County, Pinal County / Arizona, as the market has a lot of moving parts today. What is going on socio-economically, what is going on demographically, what is going on with location, with competing businesses, with public policy in general — all of these things affect the quality of selling or purchasing your Commercial Properties, Commercial Investment Properties and Commercial and large tracts of Residential Land  Therefore, you need a broker, a CCIM (Certified Commercial Investment Member) who is a recognized expert in the commercial and investment real estate industry and who understands Commercial Properties and Investment Properties.

I am marketing my listings on Costar, Loop-net CCIM, Kasten Long Commercial Group.  I also sold  hundreds millions of dollars’ worth of  Investment Properties / Owner User Properties in Retail, Office Industrial, Multi-family and Land in Arizona and therefore I am working with  brokers, Investors and Developers. I am also a CCIM and through this origination ( ) I have access to marketing not only in the United States, but also international.  Click here to find out what is a   CCIM:


WEEKLY LAND CLOSING UPDATE / THROUGH February 3, 2017 / Phoenix Arizona Metro, Maricopa County, Pinal County.


WEEKLY APARTMENT CLOSING UPDATE / THROUGH  February 3, 2017 /  Phoenix Arizona Metro



Are you ready to sell or purchase your Land or Commercial Building in Phoenix, Scottsdale, Maricopa County and Pinal County, Arizona, please call me.


I am actively looking to build relationships with Real Estate Investors and Owner Users to  broker  your land or commercial buildings in Phoenix / Scottsdale /Maricopa County  / Pinal County / Arizona.



Phoenix projected as number one US housing market for 2017


Why Phoenix?  This is a very interesting article, you should read it, amazing, there were only 350 K people living in Phoenix in 1950


Reasons to Consider me for Commercial Referrals – I have the Knowledge and Experience


Click here to View My Listings and Profile


Click here to find out what is a CCIM:


Click here to view my website:


Click her to join my mailing list :

Walter Unger CCIM –   – 1-520-975-5207  –

2016 Official Arizona Visitors Guide

Visit Arizona

Why Phoenix?  This is a very interesting article, you should read it, amazing, there were only 350 K people living in Phoenix in 1950



Timeline of Phoenix, Arizona history,_Arizona_history


Phoenix, Arizona,_Arizona



Facts of Arizona – year 1848 to 2013

“The major fortunes in America have been made in land.”- John D. Rockefeller


Feel free to contact Walter regarding any of these stories, the current market, distressed commercial real estate opportunities and needs, your property or your Investment Needs for Comercial Properties in Phoenix, Tucson, Arizona.




Check out my professional profile and connect with me on LinkedIn.

<script type=”text/javascript” src=”” async defer></script>


Follow me on Facebook:


Follow me on Twitter:

Follow Me on Google+


  1. Interactive Map Of All 10+ Unit Apartment Listings in Metro Phoenix


  1. Interactive  Metro Phoenix Map of New Apartment Construction by Completion Status



Kasten Long Commercial Group tracks all advertised apartment communities, including those advertised by other brokerages.  The interactive map  shows the location of each community (10+ units) and each location is color coded by the size (number of total units). 

Click here for Map of Apartments for Sale (10+units)



Walter Unger CCIM, CCSS, CCLS

I am a successful Commercial / Investment Real Estate Broker in Arizona now for 20 years.  If you have any questions about Commercial / Investment Properties in Phoenix or Commercial /  Investment Properties in Arizona,  I will gladly sit down with you and share my expertise and my professional opinion with you. I am also in this to make money therefore it will be a win-win situation for all of us. 


Please reply by e-mail or call me on my cell 520-975-5207


Walter Unger CCIM

Senior Associate Broker

Kasten Long Commercial Group

5110 N 40th Street, Suite 110

Phoenix , AZ 85018

Direct:    520-975-5207  

Fax:       602-865-7461

View My Listings and Profile

Join My Mailing List

What is a CCIM?

Reasons to Consider me for Commercial Referrals



Delivering the New Standard of Excellence in Commercial Real Estate 

  • Commercial Real Estate Scottsdale
  • Commercial Real Estate Phoenix
  • Commercial Real Estate Arizona
  • Commercial Investment Properties Phoenix
  • Commercial Investment Properties Scottsdale
  • Commercial Investment Properties Arizona
  • Land Specialist Arizona
  • Arizona Land Specialist
  • Land Specialist Phoenix
  • Phoenix Land Specialist
  • Land For Sale Phoenix
  • Land for sale Arizona
  • Commercial Properties For Sale Phoenix
  • Commercial Real Estate Sales Phoenix
  • Commercial Properties Phoenix
  • Commercial Properties Arizona
  • Commercial Land Specialist Phoenix
  • Commercial Land Phoenix
  • Multifamily land Phoenix
  • Retail Land Phoenix
  • Industrial Land Phoenix
  • Land Commercial Phoenix
  • Land Retail Phoenix
  • Land Industrial Phoenix
  • Land Multifamily Phoenix
  • Industrial Land for sale Phoenix
  • Land Industrial
  • P
  • Investment Real Estate


Disclaimer of Liability

The information in this blog-newsletter is for general guidance only, and does not constitute the provision of legal advice, tax advice, accounting services, investment advice, or professional consulting of any kind. The information provided herein should not be used as a substitute for consultation with professional tax, accounting, legal, or other competent advisers. Before making any decision or taking any action, you should consult a professional adviser who has been provided with all pertinent facts relevant to your particular situation. Tax articles in this e-newsletter are not intended to be used, and cannot be used by any taxpayer, for the purpose of avoiding accuracy-related penalties that may be imposed on the taxpayer. The information is provided “as is,” with no assurance or guarantee of completeness, accuracy, or timeliness of the information, and without warranty of any kind, express or implied, including but not limited to warranties of performance, merchantability, and fitness for a particular purpose.