Next Wave Investors Acquires Multifamily Asset In Prescott, Arizona For $58M

A multifamily property located at 3147 Willow Creek Rd in Prescott, Arizona has been sold in a transaction. The property consists of 160 units and was sold for a price of $58,000,000, resulting in an average price per unit of $362,500. The sale took place on 12/03/2021.

Summary of transation details

• Property Type: Multifamily
• Transaction Amount: $58,000,000
• Units: 160
• Price Per Unit: $362,500
• Address: 3147 Willow Creek Rd, Prescott, Arizona
• Market: Prescott, Arizona

The buyer of the property is Next Wave Investors, while the seller is 3137 Willow Creek Road LLC. The transaction was facilitated by the brokers Steve Gebing, Cliff David, and Hamid Panahi from Institutional Property Advisors (IPA) - Marcus & Millichap.