Värde Partners Supplies $66M Refi for Phoenix Single-Family Rental Property

Arizona developer Empire Group has sealed a $65.5 million loan to refinance a newly built single-family rental (SFR) community in Phoenix, Commercial Observer has learned.

Värde Partners closed the three-year floating-rate loan with two one-year extension options for the 240-unit Village at Sonoran Vista property, which was completed in January 2026 in Phoenix’s Deer Valley neighborhood. The property is on roughly 34 acres within three miles of Taiwan Semiconductor Manufacturing Company’s (TSMC) Arizona semiconductor campus. 

“With TSMC’s investment anchoring a broader set of housing demand drivers in north Phoenix, this new community offers residents an attractive option for single-family living without the cost of ownership,” Jon Miller, managing director at Värde Partners, said in a statement. 

WAY Capital arranged the transaction with a team consisting of Kyle McDonough, Malcolm Davies and Alex Rossinsky.  

Located at 30825 North Valley Parkway, Village at Sonoran Vista features single-story SFR homes with private garages and carports. Community amenities include a clubhouse, swimming pool, fitness center, car wash and dog park.

The rise of 30-year mortgage rates past 7 percent in late September should create more demand for SFR options in the Phoenix area, according to Randy Grudzinski, partner at the Empire Group.

“With TSMC’s nearby investment generating a massive amount of jobs, which in turn is driving the need for additional housing options within close proximity, we believe that Sonoran Vista is well positioned to capitalize on this influx in demand,” Grudzinski said in a statement.

Andrew Coen can be reached at acoen@commercialobserver.com.