Investcorp Acquires Multifamily Assets In Phoenix, AZ For $169.5M

The multifamily property located at 15202 N. 40th St. & 17425 N. 19th Ave. in Phoenix, AZ was recently sold for a price of $169,500,000. The property consists of 816 units, with a per unit price of $207,720. The total square footage of the property is 623,009, resulting in a price per square foot of $272.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $169,500,000
• Units: 816
• Price per Unit: $207,720
• Total Square Footage: 623,009
• Price per Square Foot: $272

The sale was made by Tides Equities, represented by Sean Kia and Ryan Andrade, to Investcorp. Notably, Investcorp has retained Tides Equities as the sponsor and managing member of the assets, allowing them to retain an ownership percentage in both properties.