Arizona-based developer Empire Group has secured $65.5 million in financing to refinance a newly built single-family rental (SFR) asset in Phoenix, Commercial Observer has learned. Värde Partners provided the three-year, floating-rate loan, with two one-year extension options, for the 240-unit 'Village at Sonoran Vista' property.
The development was completed in January 2026 in the Deer Valley neighbourhood of Phoenix. It spans approximately 34 acres and is located within three miles of the Taiwan Semiconductor Manufacturing Company (TSMC) Arizona campus.
Strategic Location and Rising Demand
Jon Miller, Managing Director at Värde Partners, stated that TSMC's investments would drive broader housing demand in North Phoenix. This new community offers residents an attractive option for single-family home living without the costs of ownership.
WAY Capital arranged the transaction with a team comprising Kyle McDonough, Malcolm Davies, and Alex Rossinsky. The 'Village at Sonoran Vista', located at 30825 North Valley Parkway, includes single-storey SFR homes with private garages and carports.
- —Clubhouse
- —Swimming pool
- —Fitness centre
- —Laundry facility
- —Dog park
Market Forecast
According to Randy Grudzinski, Partner at Empire Group, the rise in 30-year mortgage rates above 7 per cent at the end of September is expected to further increase demand for SFR options in the Phoenix area. Grudzinski explained that TSMC's nearby investment creates a high number of jobs, which in turn increases the need for additional housing options in the immediate vicinity. He is convinced that 'Sonoran Vista' is well-positioned to benefit from this influx of demand.
