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7/02/19
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Ridge View, a 150-unit luxury apartment community in Fountain Hills, AZ, was acquired by an entity formed by San Francisco-based FPA Multifamily LLC for $30.3 mil, or $202k/unit. The property was sold by San Francisco-based 29th Street Capital and Phoenix-based Clear Sky Capital.
Ridge View is a recently renovated, garden-style community featuring a mix of large two-bedroom floor plans. Unit interiors, many of which have been recently upgraded, offer full-size washer/dryers, 9-foot ceilings, custom two-tone paint, gourmet kitchens, granite countertops, black or stainless steel appliances, kitchen islands, walk-in closets, wood-style plank flooring, ceiling fans, bathroom vanities and private patios/balconies.
Renovations and improvements were also completed to the common area amenities, landscaping and building exterior providing residents a newly renovated swimming pool, spa, outdoor fire pit, gas and charcoal BBQ grills, clubhouse, business/computer center, fitness center and covered parking.
David Fogler and Steven Nicoluzakis of Cushman & Wakefield represented the seller in the deal.
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