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NexMetro Communities Signs New Investment Deal with IStar

Phoenix‐based homebuilder NexMetro Communities, America’s innovator and builder of next generation, leased‐home neighborhoods in the Sunbelt, announced today that it has closed on two financing deals with iStar Inc. (NYSE:STAR) for the development of Avilla branded rental communities in the Phoenix area. The newly formed relationship could lead to iStar’s investment in as many as nine Avilla communities over the next twelve to eighteen months.