Suites on ScottsdaleScottsdale, Arizona Suites on Scottsdale is a 114-room extended stay hotel that Sterling will be converting into an upscale, 85-unit apartment complex. The property is located between downtown Scottsdale to the South, the prestigious Paradise Valley neighborhood to the West, and the Scottsdale Airpark Employment Corridor to the North, boasting nearly 90,000 jobs.…
Pennytree ApartmentsMesa, Arizona Originally built in the 1960’s, the 146-unit property, Pennytree Apartments, is strategically situated at 232 S. MacDonald, which is less than a mile from the growing number of eateries, breweries and local retail options in Downtown Mesa. At the time of transaction, the property remains 99 percent occupied. In the coming months,…
The Life at Castle Hills ApartmentsSan Antonio, Texas The Life at Castle Hills is a 230-unit apartment community conveniently located adjacent to Churchill High School in North San Antonio less than one mile south of the Wurzbach and Blanco intersection. Built in 1981, the property is 94% occupied and well maintained for the vintage. The units…
Silver Creek ApartmentsSan Antonio, Texas Silver Creek Apartments is a 160-unit apartment community located near the entrance to USAA’s main headquarters, just west of Fredericksburg Rd, off the I-10 freeway in Northwest San Antonio. Built in 1983, the property is 94% occupied at acquisition and well maintained for the vintage. This acquisition represents an opportunity…
Villas de AzulPhoenix, AZ Villas de Azul is a 301-unit apartment complex located in Central Phoenix. Built in 1972, the property was only 75% occupied and a value‐add opportunity to reposition and stabilize the property to maximize its value. The property will benefit from repositioning the asset profile by improving the current amenities, enhancing the…
Muir LakeCedar Park, Texas Muir Lake is a 332 unit class A apartment community located in the Austin, TX MSA city of Cedar Park, TX. The property was built in 2014 by the Larry Peel Company, who is known for high-quality properties in unique geographically, challenged locations. Muir Lake sits on 64 acres and overlooks a…
Before & AfterCieloPhoenix, Arizona Cielo Apartments is a 360 unit apartment complex located on a new light rail station in the emerging “19 North” submarket of Phoenix. Built in 1981, the property is 94% occupied and well maintained for the vintage. There is significant upside to capitalize on under-market rents by implementing a repositioning and renovation strategy including,…
SeventhPhoenix, Arizona Seventh is a 286 unit apartment complex located in the Uptown submarket of Phoenix. The property was built in 1970 and has been owned and operated by a non-profit for 22 years. The opportunity offers significant management and repositioning opportunities. The business plan will include re-branding, enhancing the property’s curb appeal, adding new resident amenities, interior unit renovations, LED…
Cross Creek ApartmentsAustin, Texas Cross Creek Apartments is a 200 unit property that was in need of significant repairs. The property was originally planned to be redeveloped by a tax credit developer so the property was neglected and repairs were not made to the property. When the tax credit financing fell through, the owner decided…
Before & AfterChestnut ParkSan Antonio, Texas Chestnut Park Apartments is a 145 unit apartment complex located in the Castle Hills submarket of San Antonio. Built in 1979, the property is 97% occupied and well maintained for the vintage. There is significant upside to capitalize on under-market rents by implementing a repositioning and renovation strategy including, increased curb appeal, common…
