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Bungalows at San Tan Village 2120 E. Ray Road | Gilbert, AZ 85296

The Opportunity

Berkadia is pleased to present Bungalows at San Tan Village, a 159-unit, horizontal, Build-to-Rent (BTR) community located in Gilbert, Arizona.

Highly Amenitized Build-To-Rent Community With Balanced Unit Mix Luxury Amenity Set Rivals Class A+ Apartments

High Mortgage Rates And Limited Resales Bolster Build-To-Rent Demand Current home ownership affordability and limited resale opportunities should continue to create demand tailwinds for Bungalows at San Tan Village unique Build-to-Rent housing.

High Resident Demographics Boasting an average household income over $123,000, Bungalows at San Tan Village's affluent resident base promotes long-term rental growth. The current rent-to-income ratio stands at only 23%.

Entertainment-Rich Location With Exceptional Family Appeal Residents have convenient access to SanTan Village retail corridor, Gilbert Town Center, Epicenter Agritopia, and Downtown Gilbert, enhancing lifestyle andentertainment options.

INVESTMENT HIGHLIGHTS

Ultra-Connected Location With Access To Diverse, High-Wage Employment Bungalows at San Tan Village is conveniently located less than 1.5 miles from the Loop 202 Freeway, offering quick access to the East Valley’s major employment centers with over 44,800 employers and ± 720,000 jobs within a 30-minute commute.

World-Class Healthcare Provides Recession Proof Employment Eight hospitals within a ten-mile radius of Bungalows at San Tan Village provide recession-proof employment and support more than 11,800 jobs in the region.

Berkadia®, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is an industry leading commercial real estate company providing comprehensive capital solutions and investment sales advisory and research services for multifamily and commercial properties. Berkadia® is amongst the largest, highest rated and most respected primary, master and special servicers in the industry. This advertisement is not intended to solicit commercial mortgage company business in Nevada. © 2024 Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Berkadia® and Berkadia Commercial Mortgage® are trademarks of Berkadia Commercial Mortgage LLC. Investment sales and real estate brokerage businesses are conducted exclusively by Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Commercial mortgage loan origination and servicing businesses are conducted exclusively by Berkadia Commercial Mortgage LLC and Berkadia Commercial Mortgage Inc. Tax credit syndication business is conducted exclusively by Berkadia Affordable Tax Credit Solutions. For state licensing details for the above entities, visit www.berkadia.com/licensing.

Ric Holway

Senior Managing Director 602.828.0074 ric.holway@berkadia.com AZ License #SA045121000

Mark Forrester

Senior Managing Director 602.526.4800 mark.forrester@berkadia.com AZ License #BR006620000

Andrew Curtis

Senior Director 602.571.4190 andrew.curtis@berkadia.com AZ License #SA676613000

Kristin Watson

Operations Director 602.445.1674 kristin.watson@berkadia.com AZ License #SA649645000

Dan Cheyne

Managing Director 602.327.4447 dan.cheyne@berkadia.com AZ License #SA578551000

PHOTO GALLERY

LOCATIon

1,008

avg sf

159

UNITS

Investment Sales

CLAY AKiwenzie

Managing Director 775.447.0595 clay.akiwenzie@berkadia.com

Mortgage Banking

Introduction

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Berkadia®, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is an industry leading commercial real estate company providing comprehensive capital solutions and investment sales advisory and research services for multifamily and commercial properties. Berkadia® is amongst the largest, highest rated and most respected primary, master and special servicers in the industry. This advertisement is not intended to solicit commercial mortgage company business in Nevada. © 2025 Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Berkadia® and Berkadia Commercial Mortgage® are trademarks of Berkadia Commercial Mortgage LLC. Investment sales and real estate brokerage businesses are conducted exclusively by Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Commercial mortgage loan origination and servicing businesses are conducted exclusively by Berkadia Commercial Mortgage LLC and Berkadia Commercial Mortgage Inc. Tax credit syndication business is conducted exclusively by Berkadia Affordable Tax Credit Solutions. For state licensing details for the above entities, visit www.berkadia.com/licensing.

2024

BUILT

Built in 2024, Bungalows at San Tan Village presents an attractive mix of one-bedroom, two-bedroom, and three-bedroom single-story, low-density, for-rent apartment homes in Gilbert’s high-growth Class A suburban sector of Metro Phoenix. All units feature thoughtfully designed floorplans with 10-foot ceilings, smart home systems, and private backyards with covered patios. The units are complemented by attractive community amenities including a clubhouse with a fitness studio, expansive resort-style lap pool and spa, oversized private dog park, half-mile walking trail, and a playground. Demographics in Gilbert are among the best in Arizona and accelerated retail, restaurant, and mixed-use development in the San Tan Village core over the past decade has resulted in robust rental demand in Bungalows at San Tan Village’s immediate submarket. In addition, build-to-rent demand continues to be bolstered by elevated interest rates, mortgage payments, and limited resales. Bungalows at San Tan Village’s convenient location along the Loop 202 Freeway provides unrivaled access to the diverse, high-wage employment throughout the East Valley. The area’s expanding labor market is one of the most powerful economic engines in the Southwest U.S., attracting high-quality employers and residents given the excellent schools, parks, and quality of life offered in Gilbert. Extensive development projects in the submarket continue to sustain the submarket’s renter pool, such as LG’s $5.5 billion battery manufacturing plant, which is expected to create 2,800 high-wage jobs by late 2025. Pricing for this unusually attractive opportunity is to be defined by the market. Also, this community is now physically stabilized and is offered free and clear, thereby allowing investors to explore today’s financing environment.

Award-Winning Elementary Education Bungalows at San Tan Village is located within the Gilbert Elementary School District, providing residents proximity to its highly rated (A) schools. Gilbert schools have earned a reputation for excellence in education, with numerous accolades and recognition for their outstanding performance.

Phoenix Office

2425 E. Camelback Road, Suite 960Phoenix, AZ 85016

John Cunningham

Senior Managing Director602.625.7476john.cunningham@berkadia.comAZ License #BR034840000

Charles Steele

Senior Managing Director602.319.5007charles.steele@berkadia.comAZ License #SA645142000