Canadian investor Western Wealth Capital has acquired The Colony, a 236-unit apartment building in Phoenix, from an entity formed by CALCAP Advisors for $25.1 million.

Located at 4337 N. 53rd Lane, the property is made up of 41 buildings with one- and two-bedroom floor plans and 93 single-story casitas. The units average 825 square feet and has been updated with new washers/dryers, appliances, flooring and other general updates.

Executive managing director Jim Crews of Cushman & Wakefield's Phoenix office represented the seller.

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Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.