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Greystar Acquires Luxury PHX Camelback Corridor MF
Greystar Real Estate Partners, LLC acquired Crescent Highland, a 349-unit multifamily property in Phoenix on behalf of its real estate funds. The asset, located at 4626 N. 16th St., was completed in 2017 and is in the Camelback Corridor.
Greystar’s Kevin Kaberna says, “The acquisition of Crescent Highland complements Greystar’s strategy of acquiring high-quality assets in rapidly-growing markets like Camelback Corridor. We were able to purchase brand new product below true replacement cost, and we believe our plan to leverage Greystar’s operational efficiencies will allow us to maximize the property’s potential and capitalize on the neighborhood’s enduring popularity.”
Greystar also acquired the three-property, 845-unit Acacia portfolio on behalf of its real estate funds. The value-add portfolio is concentrated in Phoenix’s affluent East Valley, and comprises Chandler Court and River Ranch in Chandler, and Vista Montana in Gilbert.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition

