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Los Angeles-based Decron Properties has purchased three apartment buildings since it entered the market four months ago, spending more than $250 million on the combined 772 units. Phoenix has been an attractive growth market for years, and the pandemic has only made it more appealing, according to Daniel Nagel, the firm’s CFO, about why they are just now entering the market.

“The pandemic made purchasing in our existing markets very difficult. California and Washington were very low trade markets in 2020,” Nagel tells GlobeSt.com. “Properties had a lot of delinquency, and frequent and sustained shut downs made the recovery difficult to underwrite. Arizona handled the pandemic very differently which encouraged us to focus more on that market as our current markets did not see a lot of transaction activity.”

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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.

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