November 22, 2024 7:34 am
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Trinsic Venture completes $6.2M assemblage of central Phoenix apartment site

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Tinsic LogoBy Business Real Estate Weekly

A joint venture formed by Trinsic Residential Group in Dallas, Tex. (Brian Tusa, managing director) has completed the $6.2 million assemblage of a multi-parcel site in Central Phoenix that is planned for a 220-unit apartment community being called Aura on Indian School.

The 7.01-acre property wraps the northwest corner of 20th Street and Indian School Road. BREW reported the Trinsic venture agreeing to buy the land and planning to develop the multi-family project one year ago. Maricopa County records show TRG Indian School L.P. acquired the parcels from companies formed by three separate sellers in six cash transactions.

The assemblage was negotiated through Michael Lieb of Michael A. Lieb Ltd. in Phoenix. The purchase included parcels now occupied by multiple commercial buildings and a mobile home park. Construction is set to start by June, with opening following 12 months later.

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