Colliers International sells 20 acres in Peoria for multifamily development

Christopher Todd Communities acquires land for approximately $4.1 million

Phoenix, February 20, 2018 – Christopher Todd Communities purchased 20 acres of land at Happy Valley Road and Vistancia Boulevard in Peoria, Arizona, for $4,094,385. The site will be developed into single-family rental homes.

John Finnegan, Chaz Smith and Ramey Peru of Colliers International in Greater Phoenix handled the land sale. Scottsdale Investment Management AZ LLC was the seller, and Christopher Todd Vistancia LLC was the purchaser.  

“Christopher Todd Communities looks to further its success in the rental housing market,” said Finnegan, senior vice president with Colliers. “This site is a great complement to their Surprise site. The demographics, transportation corridors and housing values provide a perfect setting for this rental product. The seller has an additional 23 acres immediately west of this site, which is currently in sale negotiations and would result in a project that complements the Christopher Todd development.”

Christopher Todd Communities is a new Arizona-based real estate development company with a unique niche in horizontal multi-family communities. Christopher Todd Communities creates technology-forward, highly-amenitized, single-family home rental neighborhoods that nurture a sense of belonging. 

Hancock Builders (Greg Hancock, Kelly Ward) will build 224 rental homes at the site. The property will feature 92 one-bedroom units with 640 square feet each and 132 two-bedroom homes with approximately 997 square feet of space. The community will offer a resort-style pool area and a state-of-the-art fitness center.

The company plans to begin construction during second quarter of this year. Hancock Builders is the exclusive builder for Christopher Todd Communities and has successfully completed 100 units and currently has another 15 projects in the pipeline for development.

About Colliers International Group
Colliers International Group Inc. (NASDAQ and TSX: CIGI) is an industry leading global real estate services company with 15,000 skilled professionals operating in 68 countries. With an enterprising culture and significant employee ownership, Colliers professionals provide a full range of services to real estate occupiers, owners and investors worldwide. Services include strategic advice and execution for property sales, leasing and finance; global corporate solutions; property, facility and project management; workplace solutions; appraisal, valuation and tax consulting; customized research; and thought leadership consulting.

Colliers professionals think differently, share great ideas and offer thoughtful and innovative advice that helps clients accelerate their success. Colliers has been ranked among the top 100 global outsourcing firms by the International Association of Outsourcing Professionals for 12 consecutive years, more than any other real estate services firm. Colliers also has been ranked the top property manager in the world by Commercial Property Executive for two years in a row.

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Colliers International in Greater Phoenix has served clients locally and globally for more than 35 years.