ICG LLC Acquires Bayside Multifamily In North Phoenix For $46M

The Bayside multifamily property located at 20245 North 32nd Drive in Phoenix, AZ has been sold for a total price of $46,000,000. The property is a Class A garden-style community consisting of 176 units, resulting in a price per unit of $261,364. The sale was facilitated by broker Dan Cheyne from Berkadia.

Summary of transation details

• Property Type: Multifamily
• Transaction Amount: $46,000,000
• Units: 176
• Price Per Unit: $261,364

ICG LLC, represented by broker Dan Cheyne from Berkadia, purchased the Bayside multifamily property in North Phoenix from the seller, MIG Real Estate, LLC. Additionally, mortgage brokers Jeff Stuart also from Berkadia were involved in the transaction to facilitate the financing of the sale.

The Bayside multifamily property is strategically located in the Deer Valley submarket, providing easy access to employment centers and retail amenities. The property recently received a capital infusion of $4.2 million, making it an attractive investment opportunity for ICG LLC.