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

Property Image
SOLD
$44,100,000
Ryan Boyle
Trevor Koskovich
Jesse Hudson
+ 1

Arizona

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MultiFamily
Sold 09/17/2025
the dealplayerscompscontact
Property Image
SOLD

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

1373 East Mulberry Drive & 9318 East Solina Avenue

See Similar Deals
MultiFamily
Sold 09/17/2025
Ryan Boyle
Trevor Koskovich
Jesse Hudson
+ 1
the dealplayerscompscontact
Contact now

Summary

ARIZONA
Asset Type:MultiFamily
Transaction Type:Sale

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:

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.

Players

Jesse Hudson
NorthMarq
Jesse Hudson
15 deals$564.1M volume
BROKER
Trevor Koskovich
NorthMarq
Trevor Koskovich
17 deals$704.1M volume
BROKER
Ryan Boyle
NorthMarq
Ryan Boyle
9 deals$310.8M volume
BROKER
Logan Baca
NorthMarq
Logan Baca
4 deals$144.6M volume(602) 952-4052
BROKER
NorthMarq
NorthMarq
BROKERAGE
PV
Platform Ventures
SELLER

Details

SOLD
IMAGE: 09/17/2025 ADDRESS: 1373 East Mulberry Drive & 9318 East Solina Avenue MARKET: Chandler & Mesa, AZ ASSET TYPE: MultiFamily BUYER: Tricon Residential SELLER: Arcadia Capital Group & Platform Ventures BROKERS: Ryan Boyle, Trevor Koskovich, Jesse Hudson & Logan Baca - NorthMarq SALE PRICE: $44,100,000 UNITS: 91 ~ PPU: $484,615 NOTE: Arcadia Capital Group and Platform Ventures sold two build-to-rent communities in metro Phoenix, totaling 91 homes, to Tricon Residential for $44.1 million, including Bower Hudson Crossing ($23 million) and Bower Gateway ($21.1 million).

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$2,352,000.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$156,677.99
Cash-on-Cash Return-1.27%
Monthly Debt Service$209,056.50
Annual Debt Service$2,508,677.99