Tricon Residential Acquires MultiFamily Communities From Arcadia Capital Group & Platform Ventures For $44.1M

1373 East Mulberry Drive and 9318 East Solina Avenue are multi-family assets located in the Chandler and Mesa market of Arizona. The properties involved in this transaction comprise a total of 91 units and were sold for a total of $44,100,000, resulting in a per unit price of $484,615.

Summary of transaction details:

• Property Type: MultiFamily
• Transaction Amount: $44,100,000
• Buyer: Tricon Residential
• Seller: Arcadia Capital Group & Platform Ventures
• Brokers: Ryan Boyle, Trevor Koskovich, Jesse Hudson & Logan Baca - NorthMarq
• Units: 91

The sale included two build-to-rent communities in metro Phoenix, specifically Bower Hudson Crossing sold for $23 million and Bower Gateway sold for $21.1 million. The brokers representing the transaction were from NorthMarq, facilitating the deal between the involved parties.