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Utah Investor Picks Up Phoenix MF for $42M
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San Diego-based Sunroad divested Sonoma Ridge, a 240-unit garden-style multifamily community in Peoria, AZ, for $42 million. Located in Phoenix’s West Valley Arrowhead submarket at 8201 W. Beardsley Rd., the property was purchased by Salt Lake City-based TM Equities Inc.
Built in 2001, Sonoma Ridge features a low-density site plan with all two-story buildings. The community offers spacious one, two and three-bedroom floor plans.
Residences feature nine-foot ceilings, washers/dryers, vinyl wood plank flooring and private patios/balconies. Community amenities include a residents clubhouse, swimming pool and spa, children’s playground and picnic areas with stainless steel barbeque grills.
CBRE’s Tyler Anderson, Sean Cunningham, Asher Gunter and Matt Pesch represented the seller.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition