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.

ABI Multifamily partner Doug Lazovick, along with senior managing partners Alon Shnitzer and Rue Bax, partner Eddie Chang, and senior managing partner John Kobierowski, represented both parties in the transaction.

 

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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.