WhiteHaven Capital Expands Phoenix Portfolio Through Acquisition of 117-Unit South Mountain Square Apartments
Phoenix is the fifth largest city in the country, and the MSA is the second fastest growing large city. "Phoenix has seen the highest rent growth in the country recently. Occupancy is near record levels. This city has all of the fundamentals necessary for investing in multifamily,"
South Mountain Square Apartments are in the South Mountain neighborhood of Phoenix. Located on Baseline Rd., this complex sees approximately 30,000 vehicles per day. Baseline Rd. is one of the most traveled fairways in all of Phoenix, and is in the midst of a significant redevelopment, with the corridor seeing incredible activity.
"We love what's happening in this area, and we're excited to be a part of it," said Sam Grooms. The new owner, in collaboration with the area's premier property management provider, Shelton-Cook, plan to completely renovate and rebrand the property, offering residents additional amenities that have only been seen in the submarket with newer construction.
About WhiteHaven Capital
The company is a real estate private equity investment firm, with a focus on value-add multifamily properties in US growth markets. To learn more, visit www.whitehavencapital.com.
Sam Grooms, Managing Partner