Rise48 Buys 166-unit Phoenix Community

by multihousingnews.com posted 1month ago 4 views
The company plans to invest more than $250 million in apartment acquisitions this year. : Rise48 Equity has paid $26.7 million to Sheiner Group for Cascada Del Sol, a 166-unit value-add community in Phoenix. The new owner is targeting a comprehensive renovation program. ABI Multifamily facilitated the transaction. According to Yardi Matrix data, Cityside Capital is co-owner of the community. The property encompasses 10 two-story buildings located on 4.2 acres at 1502 West Glendale Ave. Floorplans include a mix of 68 one-bedroom and 44 two-bedroom units, in addition to 54 studios, with sizes ranging from 404 to 815 square feet.

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