Property Concepts acquires 104 unit Multi Family Project in Phoenix Arizona

PRLog (Press Release) - Sep. 4, 2012 - A real estate Investment group led by Scott Ferguson, President and CEO of Property Concepts acquired the Pinchot Towers Apartment complex at 3211 N. Pinchot Phoenix AZ.

The 104 unit  three-story, 65,900-square-foot multi family property was built in 1972 and is located in the stable East Phoenix sub-market. The property was 100 percent occupied at the time of sale.

The transaction was assembled with a group of accredited investors under the Securities and Exchange Commissions Regulation D exemption in combination with financing from RepublicBankAZ.

Silver Mountain realty group has been selected to professionally manage the property.

Scott Ferguson stated  "I am thrilled with the acquisition based on the condition and income performance of the property, our investor group will do very well with this property. Our team did a great job managing the transaction, including broker Pete Te Kampe of Marcus and Millichap, and Michael Harris of Republic Bank AZ."

http://www.azpropertyconcepts.com