January 6, 2022

Property: Park 67 Apartments, a 160-unit property in Glendale, Ariz. Buyer: Tower 16 Capital Partners Seller: Vertex Investments Price: $30.4M/$251 per s.f. Projected IRRs: Mid-20% range As Arizona continues to be a growing hotspot for acquisition activity, expect competition for buyers to ramp up throughout 2022. In some cases, buyers scrambled to get closings done More