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MG Properties Expands Arizona Portfolio With $107 Million Acquisition of 289-Unit Apartment Community in Phoenix Submarket of Chandler

PHOENIX, AZ - MG Properties, a private San Diego-based real estate investor, owner, and operator has purchased 2150 Arizona Ave South Apartments l for $107 million. Rebranded as 2150 Apartments, this Chandler submarket of Phoenix boasts some of the most robust multifamily fundamentals in the metro due to its proximity to multiple job corridors, one of Arizonas top school systems, award-winning master-planned communities, and relative affordability. With thoughtfully designed one, two, and...
United States Mark Forrester Dan Cheyne Chuck Christensen Jeff Gleiberman Lowell Takahashi

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Tower 16 Capital Partners Complete $32.1 Million Disposition of 180-Unit Thomas Apartment Community in Phoenix, Arizona

WESTLAKE VILLAGE, CA - Tower 16 Capital Partners has sold Loramont on Thomas Apartments, a 180-unit multifamily project in Phoenix, AZ for $32.1 million. The property was purchased by Tower 16 in December 2019 for $11.7 Million in an off-market transaction. The new buyer is planning to further improve the property during its ownership. “We made significant improvements to the Loramont on Thomas project during our ownership,” said Tower 16 Co-Founder Mike Farley. “That allowed.....
United States Maricopa County Dan Cheyne Tyler Pruett Mike Farley Capital Partners

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