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Sandal Ridge
Vancouver-based Western Wealth Capital has acquired a four-property, 748-unit portfolio in Phoenix and Mesa, AZ, for $41.5M, bringing the firm’s Phoenix-area multifamily holdings to 21 properties and 3,487 units. Western Wealth acquired two other multifamily properties in Arizona in April and May. Marcus & Millichap’s Cliff David, who repped the undisclosed seller and procured the buyer in the deal, says the portfolio (including Sandal Ridge in Mesa, above) offers geographic diversification throughout metropolitan Phoenix, operational scale and an opportunity to “enhance a significant portion” of the unit interiors of each asset.
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