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7/11/18
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Phoenician Villa Apartments, a 93-unit multifamily property in Phoenix, AZ, was purchased by Thomas Pride International and ECOHAUS Real Estate for $5.5 mil ($59k/unit). The seller was Neilstate Investment Properties, LLC, a real estate investment partnership.
Located at 1545 West Camelback Rd, Phoenician Villa Apartments present an exceptional value-add opportunity to renovate and reposition a multifamily community in a rapidly gentrifying location. The Camelback Road submarket offers a high concentration of upscale retail, restaurants and a diverse employment base. The community resides between the AZ-51 and I-17 freeways and offers residents convenient access to the Valley Metro Light Rail.
Karl Abert with Kidder Mathews represented Thomas Pride and ECOHAUS, a real estate development and redevelopment company that focuses on the creation and renovation of urban infill sustainable communities.
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