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December 18, 2018
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MULTIFAMILY NEWS
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AZ Multifamily Community Sells for $90 Mil

2/23/18

Carlyle at South Mountain Townhomes & Apartments, a 552-unit residential community in Phoenix, was acquired for $90 mil ($163k/unit) by two entities formed by Western Wealth Capital of North Vancouver, British Columbia, Canada. The property was sold by entities formed by San Francisco-based FPA Multifamily.

Carlyle at South Mountain Townhomes & Apartments is located at 5151 E. Guadalupe Rd and 5102 E. Piedmont Rd, along the I-10 Fwy between Guadalupe and Elliot in Phoenix. The property’s location provides golf course frontage along the Arizona Grand Golf Course, and is adjacent to the South Mountain Park & Preserve.

The Carlyle offers one-, two-, and three-bedroom floor plan options averaging over 1k sf in size. Built in 1995, unit interiors include washer/dryer, fireplaces, vaulted ceilings, private balcony/patio and garages in select units. The property’s common area amenities include two fitness centers, two clubhouses, four swimming pools and three spas.

Executive Managing Directors Steven Nicoluzakis and David Fogler of Cushman & Wakefield represented the seller in the transaction.





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