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...
Source: multifamilybiz.com
