Phoenix BTR sells for record price

By Angela Gonzales | Phoenix Business Journal

Cavan Cos. has sold a Phoenix build-to-rent housing community for record price of $112.5 million.

The sale of the 334-unit Bungalows on Camelback rental community makes it the highest-priced sale of any BTR asset in Arizona, said Connor Devereux, senior director of market analytics for CoStar Group/Homes.com.

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