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“Timeless” Phoenix Apartment Complex Sells for $50M
The Phoenix Manor was built in 1961, and has retained much of the same classic aura from that time period. Reliant Group Management has purchased the N. Phoenix 450-unit property for $50 million.
Reliant’s Cindy Cooke touted the project, “Phoenix Manor was one of the most unique properties throughout my career and had been pridefully owned by the same family for the last 60 years. It is not every day you find a low-density community with 24 acres of natural grass in Phoenix, while having visibility to downtown Phoenix.”
The property features a unique abundance of amenities and park-like landscaping, large community building and auditorium for resident functions. The property was composed of mainly single-level block, with private patios and pitched roofs. The property includes 38 apartment buildings, 16,746 square foot clubhouse and leasing center, a 6,750 square foot auditorium, and 4,200 square foot maintenance shop, two pools, two lagoons, three pavilions, a dog park, putting green and four shuffleboard courts.
- ◦Sale/Acquisition