PHOENIX, AZ – San Diego-based, Tower 16 Capital Partners has purchased two Phoenix-area multifamily properties for $78.5 million.
The properties, which total 508 units, were acquired in two separate transactions.
The first of the two properties comprises the 232-unit Banyantree Apartments community, which was acquired for $36.5 million from a private family that had owned and operated the properties for nearly 30 years. Located at 12435 N. 28th Dr. in Phoenix, AZ, Banyantree Apartments features a pool, on-site laundry facilities, barbeque and picnic areas and a leasing office.
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Ingrid Tunberg
Ingrid Tunberg sits on the editorial team as a coordinator and reporter for Real Estate Forum and GlobeSt.com. She is responsible for writing stories, assisting with industry awards and marketing nomination events. Previously, Ingrid worked as a copywriter across various industries throughout New York City and Chicago.
