Turnstone Capital Buys Phoenix Apartments for $19M
Bellum Manor is a 214-unit apartment community built in 1973 with resort style swimming pools, children’s playground, and on-site basketball court.
An entity formed by Turnstone Capital has acquired Bellum Manor, a 214-unit apartment community, in Phoenix, for $19.8 million. The buyer also secured a bridge loan was structured with a 3-year term on a 30-year amortization schedule.
Built in 1973, the 214-unit apartment features resort style swimming pools, children’s playground, and on-site basketball court.
The NorthMarq Phoenix investment sales team of Trevor Koskovich, Bill Hahn and Jesse Hudson represented both the seller and the buyer in this transaction. Bobby Weinberg, senior vice president of the NorthMarq Dallas capital markets team arranged the debt and equity for the buyer.