New York-based investor The Praedium Group has acquired the Town Commons apartment community in Gilbert, Arizona. The terms of the deal, including the sales price and the name of the seller, were not disclosed.
The 306-unit apartment building is made up of 24 buildings with two 2-story townhouse buildings, ten 2-story carriage homes, and twelve 3-story garden style buildings. Ranging from 776 to 2,197 square feet.
The property is centrally located, and it features a quality amenity package.
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Kelsi Maree Borland
Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.
