Global real estate investment firm GTIS Partners has launched Tavalo, a dedicated build-to-rent community development company and a subsidiary of GTIS.
Tavalo develops purpos- built communities that provide a variety of product types and an amenitized lifestyle experience through thoughtful planning and design, reimagining what it means to rent, GTIS said in the announcement. GTIS remains committed to ESG efforts through Tavalo, utilizing design and product construction to deliver sustainable solutions from energy and water efficiency to smart home technology.
Tavalo has already completed its first of many planned build-to-rent community projects, called Tavalo at Cadence, which is located in Mesa, Arizona and includes a total of 197 build-to-rent units, a fully equipped gym, a yoga studio, three resort-inspired pools and a spa. Additionally, by using HercuWall, a panelized wall system comprised of concrete, steel and EPS, energy costs at Cadence have been reduced by 20 to 40%.
“We are thrilled to announce the launch of Tavalo,” said Tom Shapiro, President and Chief Investment Officer of GTIS. “The unique value of self-developing these build-to-rent projects is that we can bring our team’s collective expertise and research capabilities together to create and provide beautiful and thoughtful communities for renters across the U.S.”
In addition to Tavalo at Cadence, the company has begun work on seven additional build-to-rent communities in both the greater Phoenix area and South Florida. Locations include Queen Creek, Glendale, Avondale and Surprise in Arizona as well as Wesley Chapel, San Antonio and Port St. Lucie in Florida. Upon completion of these projects, Tavalo and GTIS will have developed approximately 2,100 build-to-rent units.
