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Phoenix & Southwest   /   February 9, 2021

Lisa Brown
By: Lisa Brown

Taurus Targets Phoenix for Value-Add Multifamily

Phoenix is a western United States focus market for Taurus Investment Holdings, says its acquisitions director, Max Dorsch. In fact, the firm remains committed to expanding its presence here in 2021.

“We believe Phoenix will continue to be an attractive destination for new residents and companies, especially those that are considering a move from high-cost coastal markets,” Dorsch says.

And Taurus’ latest acquisition, Indigo Springs, bears out that focus. The company recently acquired the 240-unit value-add apartment community located in Mesa. This is Taurus’ second Phoenix-area acquisition in the last six months, after purchasing Avenel on 16th in August 2020.

Mitch Sinberg and Matthew Robbins of Berkadia’s Boca Raton office secured a $38.27 million loan on behalf of the sponsor. Berkadia originated and Freddie Mac purchased the seven-year floating-rate loan.

“This is a rare value-add opportunity in the southeast Valley, at the epicenter of significant new economic development and job growth in the Mesa and Gilbert areas,” said Robbins.

IPA’s Steve Gebing and Cliff David represented the seller, TA Realty, and procured the buyer.

Built in 2000, Indigo Springs is located at 1464 South Stapley Dr., 25 minutes from Phoenix.

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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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