Cavan Companies Sells 334-Unit Bungalows On Camelback Community In Phoenix For $112.5 Million

The sale involved a single-family asset located at 4747 North 99th Avenue, Phoenix, AZ. The transaction was executed for a total price of $112,500,000, representing 334 units with a price per unit of $336,826.

Summary of transaction details:

• Property Type: Single Family
• Transaction Amount: $112,500,000
• Units: 334
• Price Per Unit: $336,826
• Seller: Norm Miller - Cavan Companies

Cavan Companies sold the 334-unit Bungalows on Camelback build-to-rent community in Phoenix to a private individual. This deal marks the largest single-asset build-to-rent sale in the Phoenix metro to date, exceeding the previous record by nearly 13% according to Yardi Matrix.