Greenlight sells Phoenix asset

_{Photo via Greenlight Communities}

(Disclosure: Rose Law Group represents Greenlight Communities.)

By Vicentiu Fusea | Multihousing News

Ideal Capital Group has purchased Cabana Happy Valley, a 292-unit class A multifamily property in Phoenix. Greenlight Communities sold the asset for $79.2 million, or $271,404 per unit. Institutional Property Advisorsrepresented the seller, also procuring the buyer. CBRE Capital Advisors originated a $43.6 million Freddie Mac acquisition loan, with a 2033 maturity date, according to Yardi Matrix.

Completed this year, Cabana Happy Valley encompasses four buildings with studio, one- and two-bedroom floorplans that range between 468 and 828 square feet, offering in-unit washers and dryers, as well as digital locks. Common-area amenities include a clubhouse, lounge, coworking space and swimming pool. The property also provides car charging stations and bike storage.

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September 28, 2023

Client News, Greenlight Communities

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