The Small Space Marketplace

List Your Space

Find Space

Home About Us Executive Subscriber Membership RENTV Conferences Newsletter Contact Us Advertise
October 22, 2017
 Search RENTV
   Go!
 Video Programs
 News
News Home Page
Southern California
Northern California
Pacific Northwest
Texas/Southwest
Retail
Multifamily
Financing
Prop. Management
Archives
Press Releases
 R. E. Marketplace
Service Providers
JobWorks
Property Spotlight
 RENTV  Conferences
Subscriber Login:
  
Email      
    Go!
Password      
Forgot Password?



ETC... ETC...
Printer-friendly Version   Email an Associate
Sterling Real Estate Holdings Acquires 130-Unit Residential Property in Phoenix

7/20/17

Sterling Real Estate Holdings, a joint venture between Barker Pacific Group and Pacific Real Estate Partners, has acquired Summerhill Apartments, a 130-unit multifamily property in Phoenix, for $9.3 mil ($71.5k/unit). The 1970s-era property is located at 2925 North Greenfield Rd, north of Thomas Rd and east of Hwy 51.

Sterling plans to add value to the property through a complete renovation. Many interiors of the Summerhill Apartments have already been significantly renovated, so Sterling plans to focus on improving various exterior features of the property, including paint, landscaping, lighting, branding, and signage.

Cushman & Wakefield’s Jim Crews and Brett Polachek represented the seller of the property, Summer Hill URMTA LLC of Mesa, AZ. Sterling Real Estate Holdings repped themselves in the deal. Sterling secured financing through Matt Steffen at Walker & Dunlop.

With its acquisition of Summerhill last month and the Cielo apartment complex in 2015, Sterling now owns three properties in two markets with a total of 635 units. The company plans to continue pusuing similar opportunities in key markets in Arizona, Nevada, and Texas.








Return to the Archive page


 
 


 
 
 





Home | About Us | Newsletter | Contact Us | Executive Subscriber Membership | Executive Subscriber Home | Advertise
Southern California | Northern California | Pacific Northwest | Southwest | Retail | Multifamily | Financing | Property Management
Archives | Press Releases | Service Providers | JobWorks | Property Listings

Copyright © 2017 by RENTV, All Rights Reserved
Website designed by Regency Web Services, Inc. and powered by Lightning Media