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Massachusetts Investor Comes to Phoenix for Multifamily Deal
ABI Multifamily arranged the $42-million sale of Rise Metro Apartments, a 160-unit multifamily apartment community located at 2045 W. Butler Dr. in northwest Phoenix. The buyer is based in Massachusetts and the seller, Rise48 Equity, is based in Arizona.
Alon Shnitzer, Rue Bax, Eddie Chang and Doug Lazovick of ABI Multifamily’s Phoenix-based Institutional Apartment Group represented both the buyer and seller.
Built in 1981, the property is constructed with wood frame and stucco exterior and flat roofs. Significant employers in proximity to the property include the numerous companies located along the I-17 employment corridor, Midtown and Downtown Phoenix, and the Camelback Corridor, as well as Banner Health, St. Joseph’s Hospital, U-Haul International, Wells Fargo, and Phoenix Children’s Hospital.
In addition, there are numerous dining and entertainment options nearby, including the Christown Spectrum Mall, a 1.2-million-square-foot power center anchored by Super Target, Walmart and Harkins Theatres
- ◦Sale/Acquisition

