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Phoenix & Southwest  + Phoenix  + Apartments  | 

Triumph Properties Group Snags 308-Unit Deer Creek Village

Triumph Properties Group acquired Deer Creek Village, a 308-unit multifamily complex in North Phoenix. The California buyer paid private local seller Deer Creek LLC $49.5 million for the asset, which is situated at 20244 N. 31st Ave.

Cliff David and Steve Gebing with Marcus & Millichap’s Institutional Property Advisors brokered the transaction. David indicated that the acquisition offered the new owner value-add potential through upgrades. “Given the significant value-add opportunity and overall well-maintained quality of the property, Triumph made an aggressive offer and closed the acquisition in 19 days,” he said.

Deer Creek Village, a 1980s property, offers one and two-bedroom floorplans. On-site amenities include a playground, three swimming pools and two spas.

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