Saturday, June 15, 2019

29th Street Capital Rings Up 13th Acquisition with 168-Unit Las Casitas Apartments in Avondale, AZ



Las Casitas Apartments, Avondale, AZ

 Avondale, AZ – 29th Street Capital (29SC), a privately-held real estate operator, has acquired Las Casitas Apartments, a 168-unit multifamily community located in Avondale, Arizona.

This will be the firm’s 13th acquisition, for a total of more than 2,500 units, in the Phoenix market. 29SC plans to invest over $2.1 million in capital improvements.

Dusty Eddy
 Interior upgrades include black appliances, improved lighting, USB ports, refaced cabinets, fresh paint and kitchen backsplashes. Exterior renovations will focus on enhancing the dog park, clubhouse, pool area and other amenities while also addressing deferred maintenance.

“Las Casitas offers residents easy access to downtown Phoenix and the greater West Valley via Interstate 10, while the Loop 202 expansion is expected to increase access to the East Valley,” said Dusty Eddy, 29SC’s Senior Vice President of Acquisitions in the Southwest.

“Population growth within three miles is forecast to exceed 7.7% for the next five years as employment opportunities flood the area.”

The Phoenix metro area ranks as the number one market for rental growth rates at 8% year-over-year, according to RealPage Analytics.


CONTACT:

Terri Thornton
Partner, Thornton Communications
Phone: 404-932-4347
Email: Terri@TerriThornton.com 
Website: www.TerriThornton.com 

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