Decron Properties Acquires Another Phoenix Multifamily Community
It’s now eight and counting. Decron added the Tamarron Apartments to its lengthy list of Phoenix holdings. The one factor that makes this one a bit different, it’s the company’s first purchase of a multifamily project in the burgeoning West Valley. The sales price of the 328-unit project was $128 million
Decron’ CFO Daniel Nagel thinks looking to the west was the right move, “The acquisition in the West Valley now gives us exposure to the entire Phoenix MSA.” Nigel added that the booming submarket has 1.7 million residents with growth expected at 2.1 million by 2030.
Located at 4410 N. 99th Ave., Tamarron is within short a distance to Taiwan Semiconductors, KORE Energy and a number of logistics companies.
Decron plans to immediately begin renovating the property. Tamarron was built in 2005. It increases Decron’s local portfolio to approximately 2,100 units.
Mike covers our Texas and Phoenix/Southwest regions. He is a veteran news reporter who spent 10 years in radio and television news, mostly in Tucson, Arizona. Following his career in the media, he spent ten years as a communications executive for a publicly traded development company. Mike is married with three boys and three Huskies.
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