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Christopher Todd Capital has purchased Avilla Parkway and Avilla Reserve, two build-to-rent communities totaling 335 houses in the greater Dallas-Fort-Worth area. Their developer, NexMetro Communities, sold the properties. The buyer declined to disclose the price for either asset.

The Arizona-based investor is rebranding both communities following the acquisition. The 108-unit Avilla Parkway, located at 3420 S. Dallas Pkwy. in the suburb of Celina will become Christopher Todd Neighborhoods Celina Park. Avilla Reserve, a 227-unit property, is now Christopher Todd Neighborhoods Elizabeth Creek. The latter property is located at 1104 State Highway 114 in the city of Justin, which is roughly 20 miles north of Fort Worth.