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Queen Creek, a Southeast Valley Phoenix submarket is growing in popularity for multifamily investors. Town Center Apartments has traded hands for $33.5 million or $190,341 per unit. Geringer Capital purchased the property.

The 176-unit class-A property features an attractive unit mix of one-, two-, and three-bedroom offerings, with an average size of 937 SF. Common amenities include a free-standing property office, a business center/clubhouse, fitness center, pool, spa and shaded playgrounds, as well as barbeques, mature landscaping and both covered and open parking.

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.

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