Tides Equities Snatches Value-Add Deal in Phoenix’s Lower Arcadia

Tides Equities has acquired the Revival on Thomas apartment community from a private investor for $21 million or $219 per square foot. The 155-unit garden-style apartment community is located in Phoenix’s Lower Arcadia community.

The 155-unit garden-style community was built in 1979 and features standard amenities as well as convenient access to public transportation, area freeways, restaurants and retail outlets. The community offers an attractive mix of studio, one- and two-bedroom units, with sizes ranging from slightly more than 400 SF to nearly 820 SF.

ABI Multifamily partners Doug Lazovick and Eddie Chang, with support from senior managing partners John Kobierowski, Alon Shnitzer and Rue Bax represented the buyer in the deal.