Thank you for sharing!

Your article was successfully shared with the contacts you provided.

Urban Communities S29, an entity formed by Urban Communities, has acquired Standard on 29th in Phoenix for $30 million. The property has 357 units, a mix of studio and one-bedroom apartments, along with four swimming pools, four laundry facilities and a sand volleyball court.

Urban Communities plans to reposition and rebrand the property and naturally drive rents, which are currently below market value. SPL Real Estate sold the property.

Kelsi Maree Borland

Kelsi Maree Borland is a freelance writer and editor living in Los Angeles whose work has appeared in such publications as Travel + Leisure, Angeleno and Los Angeles Magazine.

More from this author


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2019 ALM Media Properties, LLC. All Rights Reserved.