{"id":1004125286,"date":"2015-08-14T01:47:10","date_gmt":"2015-08-14T09:47:10","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=357670"},"modified":"2020-05-18T10:54:16","modified_gmt":"2020-05-18T18:54:16","slug":"valley-of-value-added-opportunities-strikes-again","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/valley-of-value-added-opportunities-strikes-again\/","title":{"rendered":"Valley of Value-Added Opportunities Strikes Again"},"content":{"rendered":"<p><em>By Liviu Oltean, Associate Editor<\/em><\/p>\n<p>A California-based investor has dipped its toe in the Valley for the first time with the acquisition of Palm Valley Apartments in Goodyear. The $27.2 million deal was announced by brokerage and advisory services firm <a href=\"https:\/\/abimultifamily.com\/\" rel=\"nofollow\" ><strong>ABI Multifamily<\/strong><\/a>.<\/p>\n<div id=\"attachment_357676\" class=\"wp-caption alignright\" style=\"width: 310px\"><a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/08\/Palm-Valley-Apartments.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium wp-image-357676\" title=\"Palm Valley Apartments\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/08\/Palm-Valley-Apartments.jpg\" alt=\"Palm Valley Apartments\" width=\"300\" height=\"240\" \/><\/a><\/p>\n<p class=\"wp-caption-text\">Palm Valley Apartments<\/p>\n<\/div>\n<p>The community located at 1891 North Litchfield Road is minutes away from major West Valley transportation corridors and from the renowned Palm Valley Golf Club. The property features one-, two- and three-bedroom apartments and also includes a fitness center, a clubhouse, two swimming pools, two spas and 454 parking spaces.<\/p>\n<p>JB Partners Group acquired the asset from Indianapolis, IN-based<a href=\"https:\/\/www.pedcorcompanies.com\/\" rel=\"nofollow\" ><strong> Pedcor Cos.<\/strong><\/a>. The ABI Multifamily team of Rue Bax, Alon Shnitzer, John Kobierowski, Doug Lazovick and Eddie Chang negotiated the sale.<\/p>\n<p>\u201cThe Phoenix metro has seen tremendous investment activity in and around urban core districts which has resulted in tremendous increases in price and price\/unit sales. The buyer, a private equity fund based in California, wanted to find a stable, high quality asset to purchase and reposition, and in an area outside of urban core districts where they could maximize value,\u201d Rue Bax, senior managing partner at ABI, said in a prepared statement.<\/p>\n<p><em>Image courtesy of Yardi Matrix<\/em><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A California-based investor has dipped its toe in the Valley for the first time with the acquisition of Palm Valley Apartments in Goodyear.<\/p>\n","protected":false},"author":1158,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21742,1601],"tags":[],"class_list":["post-1004125286","post","type-post","status-publish","format-standard","hentry","category-latest","category-phoenix"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - 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