Cavan Companies announced the sale of The Bungalows at San Tan Village, a 159-unit Build-to-Rent (BTR) community in Gilbert to AEW Capital Management, with a sale price of $415,723 per unit.
The sale reflects growing institutional demand for purpose-built, low-density rental communities in high-growth markets. As the developer, Cavan Companies will leverage this momentum to accelerate the expansion of its Bungalows portfolio throughout the Southwest and Midwest.
“This milestone affirms our strategy of building for long-term value,” said Dave Cavan, Owner & Chairman of Cavan Companies. “The Bungalows at San Tan Village attracted strong resident demand and institutional-level interest, underscoring the staying power of this emerging asset class. As we grow, we remain focused on delivering quality, durable yield, and long-term alignment with our investment partners.”…