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Triumph Properties Comes to North Phoenix with Multifamily Development
Triumph Properties announced it has closed an $82.5-million total capitalization of a 287-unit multifamily development project, Aileron, located in the booming North Phoenix submarket. The land parcel of 9.87 acres was purchased from Moderne Capital Partners, which will be Triumph’s development partner on the deal.
Headquartered in Beverly Hills, Triumph believes that Aileron’s location will benefit from the continued growth of the North Phoenix market including notable job announcements like the Taiwan Semiconductor Manufacturing Company, which announced plans to open a 1,129-acre, $12-billion factory. Aileron is a mile south of Deer Valley Airport, where Cox Communications and Honeywell Aerospace have strong employment centers.
“We are looking to make more strategic partnerships like we did on Aileron in the Southeast and Southwest as we expand our development pipeline,” said said Blake Brewer, director of acquisitions at Triumph. “Suburban, garden-style apartments, surface parked or wrap product are what we are focused on.”
- ◦Sale/Acquisition
- ◦Development
