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Phoenix & Southwest   /   February 19, 2021

Lisa Brown
By: Lisa Brown

Apartment Ventures’ $64M Acquisition Marks its Fourth SW Buy

Apartment Ventures NNC recently acquired the Village at Aspen Place, a 222-unit class-A mixed-use apartment. The Village was built in 2015 within Aspen Place at the Sawmill, Flagstaff's lifestyle center.

The $64.5-million transaction marks Apartment Ventures' fourth Southwest institutional-level acquisition in as many years. This brings its Southwest portfolio close to 1,000 units representing one quarter-billion dollars of investment.

Though many firms have moved into the Southwest market in recent years, Apartment Ventures has been investing in the area for more than three decades. These long-term and well-developed relationships played an integral part in Apartment Venture's acquisition of the property. In addition, its underwriting metrics and extensive local market knowledge were key factors.

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About the Author

Lisa Brown has more than 30 years of experience in corporate communications and marketing management with organizations including Grubb & Ellis, Marcus & Millichap and NAIOP.
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