Texas apartment builder bets big on Phoenix

By Angela Gonzales | Phoenix Business Journal

After selling a newly built luxury apartment community for $110.25 million last month, Embrey has broken ground on a $100 million, 340-unit apartment community in Phoenix.

Embrey paid $7.6 million for the vacant parcel near 12th street and Greenway Parkway to Donald L. Valk, who had previously paid $5.2 million for the land in August 2021, according to Tempe-based real estate database Vizzda LLC.

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