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S2 Capital Pays $55M For Suburban Phoenix Apartments

by multihousingnews.com posted 2weeks ago 21 views
Benefit Street Partners originated a $47.2 million loan for the purchase of the 408-unit community. : S2 Capital has completed the $55 million purchase of Eagle Crest, a 408-unit community in Glendale, Ariz. The company received a three-year, $47.2 million acquisition loan from Benefit Street Partners, Yardi Matrix data shows. A private family trust sold the asset, which had an occupancy rate of 97.1 percent as of August 2020. Located on 16 acres at 6451 W. Bell Road, the property encompasses 41 buildings completed in 1987.

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