January 7, 2021
Los Angeles-based TruAmerica Multifamily acquired Pointe at South Mountain Apartments in Phoenix from an entity tracing to Phoenix-based ConAm Group of Companies for $80 million. The 364-unit multifamily complex is located at 8809 S. Pointe Pkwy.
The community includes 38 two-story residential buildings that were built in 1988 on nearly 12 acres. The floorplan mix includes 206 one-bedroom/one-bath units, 30 two-bedroom/one-baths, and 128 two-bedroom/two-baths. Units feature wood-style flooring, energy-efficient appliances, modern light fixtures, and full-size washers and dryers.
Amenities include a pool, a therapeutic spa, and a bark park with agility equipment. The site is bordered by the Arizona Grand Golf Course and near the South Mountain Preserve.
CBRE Capital Markets arranged $54,997,000 in new Freddie Mac debt for the deal.
For comments, questions or concerns, please contact Dennis Kaiser
*Photo courtesy of ConAm