Tides in the Palm Valley. Image courtesy of CBRE Tides Equities acquired Tides of Palm Valley, Goodyear, Arizona for $ 71.8 million. Avanti Residential sold the 264-unit property after three and a half years of ownership. According to Yardi Matrix data, the community last traded for $ 41 million. Formerly known as Palm Valley, the property, built in 1997, is located on 1891 N. Litchfield Road and has one, two and three bedroom rental units. Communal facilities include two pools and spas with covered cabanas, a fitness center, basketball court, clubhouse, and business center. There are also barbecue and picnic areas and a playground within the community. ALSO READ: Top 5 Western Multi-Family Transaction Markets Located just north of the Papago Freeway and surrounded by a variety of dining options. The Palm Valley Golf Club is less than half a mile north. Vice Chairs Tyler Anderson and Sean Cunningham of CBRE’s Phoenix Multifamily Institutional Properties and Executive Vice Presidents Asher Gunter and Matt Pesch were part of the team that made the deal possible on behalf of the seller. The purchase came after Tides Equities paid $ 30 million for another property in Phoenix. A few days ago, the company bought Tides on 51st Ave., which was formerly owned by Tower 16 Capital Partners. Goodyear’s multi-family foundations are among the best in Phoenix, according to a prepared statement from Cunningham. Last year, Avondale / Goodyear recorded the highest net absorption of any submarket of the Metro with 1,487 units. In addition, according to CBRE data, occupancy rose to 96.7 percent in the first quarter of 2021.
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