David Moore Of Knightvest Capital Acquires Pavilions On Central Apartments From Dan Byrnes For $73.65M

The multifamily asset involved in this transaction is the Pavilions on Central Apartments located at 1 West Campbell Avenue in Phoenix, AZ. The property consists of 254 units, with an average unit size of 1,109 square feet. It was sold for a total price of $73,650,000, translating to a price per unit of $289,961. Built in 2000, the garden-style community offers convenient access to a light rail station along Central Avenue.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $73,650,000
• Address: 1 West Campbell Avenue
• Market: Phoenix, AZ
• Units: 254
• Price Per Unit: $289,961
• Buyer: David Moore - Knightvest Capital
• Seller: Dan Byrnes - Security Properties

David Moore represented Knightvest Capital in the acquisition, which marks a significant investment following the previous purchase of the property by Dan Byrnes and Security Properties for $59 million in 2018. The sale showcases a pivotal transition in asset ownership within the Phoenix multifamily market.