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RREEF’s DWS Group Grabs PHX MF for $123M
An entity tracing to Chicago-based RREEF Property Trust’s DWS Group acquired Maxwell on 66th in Phoenix from an affiliate of Dallas-based JLB Partners for $122.5 million. The 349-unit multifamily asset is located at 6611 E. Mayo Blvd.
The asset sits on more than 21 acres in the North Scottsdale corridor. The community includes 13 three-story apartment buildings totaling 539,135 square feet that was built this year. The property is near TPC Scottsdale, Kierland Commons, Scottsdale Quarter, and WestWorld.
Units include private balconies or patios, nine-foot ceilings, built-in side-by-side refrigerators, gas cooktops, stainless steel appliances, built-in wine racks and washers and dryers. Community amenities include a resort-style pool with private cabanas, a state-of-the-art wellness and fitness center, outdoor yoga lawn, a putting green, private one-car garages, electric vehicle charging stations, a pet park, as well as a resident entertainment lounge.
IPA Arizona’s Cliff David and Steve Gebing advised on the sale.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition

