April 24, 2024 12:06 pm
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Canadian investor enters market with $36.2M purchase of Peoria apartments

Peoria apartments

Peoria apartmentsBy Business Real Estate Weekly

Rock Canyon Investment LP in Vancouver, B.C., Canada (Alfonso Ergas, principal) paid $36.2 million ($122,297 per unit) to purchase the 296-unitPillar at Rock Canyon apartments located at 14300 N. 83rd Avenue in Peoria.

The seller was Pillar at Rock Canyon LLC, a company formed by Pillar Communities LLC in Seattle, Wa. (Jim Almon, principal).

The deal was brokered by Tyler Anderson, Sean Cummings, Asher Gunter and Matt Pesch of CBRE in Phoenix. Maricopa County records show the buyer acquired the property with a $25.55 million Fannie Mae loan issued through CBRE Multifamily Capital Inc.

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