Tower 16 Capital Partners Acquires Multifamily Asset In Phoenix For $36.5M

The multifamily property located at 12435 N. 28th Dr. in Phoenix was recently sold for a total of $36,500,000. The transaction took place on 08/10/2021 and involved 232 units, with a price per unit (PPU) of $157,327. The property spans a total area of 195,914 square feet, resulting in a price per square foot (PPSF) of $186.

Summary of transation details

• Property Type: Multifamily
• Transaction Amount: $36,500,000
• Units: 232
• Price per Unit (PPU): $157,327
• Square Feet: 195,914
• Price per Square Foot (PPSF): $186
• Market: Phoenix

The buyer in this transaction was Tower 16 Capital Partners, who was represented by the brokers Dan Cheyne and Ric Holloway.