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San Diego Firm Buys MF Properties in AZ, NV

SAN DIEGO—Sunroad Enterprises paid nearly $66 million for properties in suburban Phoenix and Reno.

By David Phillips | Updated on February 16, 2016

SAN DIEGO—Sunroad Enterprises has acquired Sonoma Ridge Apartments in Peoria, AZ and Bristol Bay Apartments in Sparks, NV, for a total price of around $66 million.

One of the two acquired apartment properties is just outside of Phoenix. One of the two acquired apartment properties is just outside of Phoenix.

Sonoma Ridge and Bristol Bay are the first properties to be acquired under Sunroad Enterprises’ new Multifamily Division. Growing quickly, Sunroad Enterprises launched a multifamily division; hired industry veteran, Michael Dow, to lead its efforts; and acquired its first two properties—in six months’ time.

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