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Millburn Acquires PHX’s Parc South Mountain for $60M
Salt Lake City, UT-based Millburn & Company acquired Parc South Mountain, a 258-unit multifamily property in Phoenix from Phoenix-based Evergreen Development Company for $60 million. The asset is located in the shadows of South Mountain at 3400 E. Southern Ave.
The seven-building apartment complex totals 278,400 square feet and was built in 2019 on a 10.17-acre site. The floorplan mix includes one- to three-bedroom apartments featuring gourmet epicurean kitchens with quartz countertops, stainless steel appliances, wood inspired flooring, luxurious bathrooms, walk-in closets, high-capacity washers and dryers, and a private balcony.
The community offers such amenities as a resort-inspired swimming pool with an expansive sundeck and spa, a barbecue area, and outdoor lounge with a double-sided fireplace, a clubhouse, fitness center, a dog Park, and Amazon parcel lockers.
CBRE Capital Markets arranged $39,565,000 in new Fannie Mae debt for the deal.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Financing
- ◦Sale/Acquisition

