Rincon Partners Acquires Phoenix Multifamily From Greenwater Investments For $58.2M

Located at 4040 W Peoria Ave in Phoenix, AZ, this multifamily property was recently sold in a closed transaction. The property consists of 224 units and was acquired by Rincon Partners from Greenwater Investments. The sale was facilitated by Cliff David, Steve Gebing, Hamid Panahi, and Clint Wadlund of Institutional Property Advisors. The transaction took place on 08/22/2022, with a sale price of $58,240,000. The per unit price of the property was $260,000.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $58,240,000
• Units: 224
• Price Per Unit: $260,000

The deal's key individuals and companies involved in the transaction were Cliff David, Steve Gebing, Hamid Panahi, and Clint Wadlund of Institutional Property Advisors. They represented Rincon Partners as the buyer and Greenwater Investments as the seller.