AVANTA Residential Announces $7.0 Million Preferred Equity Investment
AVANTA Residential today announced a $7.0 million preferred equity investment to support the development of Amare Rio Rancho, a new 128-unit build-to-rent (BTR) community located in Rio Rancho, New Mexico. The project is being developed by Verdot Capital, a vertically integrated real estate development firm with more than 20 years of industry experience.
Project Overview and Housing Mix
The investment will fund the construction of a diverse mix of rental homes, including 39 one-bedroom, 39 two-bedroom, and 50 three-bedroom residences. The community will feature a combination of townhomes and detached patio homes, each designed to deliver a high-quality living experience. Select townhomes will include two-car attached garages, enhancing convenience for residents.
Premium Amenities and Community Features
Amare Rio Rancho is planned as a lifestyle-focused community offering a full suite of upscale amenities. These include a resort-style pool and spa, a modern clubhouse, a fitness center, dedicated yoga spaces, and a dog park, all aimed at supporting wellness, recreation, and community connection.
Strategic Location in a High-Growth Market
Situated in one of New Mexico’s fastest-growing cities, the community benefits from excellent accessibility and proximity to major employment centers. Nearby employers include Intel, Sandia National Laboratories, and Castelion’s planned rocket motor manufacturing campus. The site is also located directly across from Presbyterian Rust Medical Center and is close to local elementary, middle, and high schools, making it an attractive option for families and professionals alike.
Leadership Commentary
“This investment in Amare Rio Rancho aligns perfectly with our strategy of partnering with top-tier developers in high-growth markets,” said Peter Spier, President of AVANTA Residential. “Demand for quality rental housing in Rio Rancho remains strong, and this community will provide a compelling option for the area’s expanding population.”
Developer Expertise and Partnership Vision
Verdot Capital brings significant experience to the development, having completed more than 4,000 multifamily units and currently managing eight build-to-rent and multifamily projects across New Mexico and Central Texas.
“We are excited to partner with AVANTA Residential to bring Amare Rio Rancho to life,” said Robert Wall, Managing Partner at Verdot Capital. “This project will deliver high-quality housing while contributing positively to the economic vitality of Rio Rancho. Our shared vision for creating exceptional communities makes this a strong and impactful collaboration.”
Source Link:https://www.businesswire.com/
