May 27, 2021

Nightingale on 25th Apartments Acquired

Atlantic Creek Real Estate Partners, LLC (“Atlantic Creek”) is pleased to announce the joint venture acquisition of Nightingale on 25th Apartments (“Nightingale” or the “Property”) in Phoenix, AZ. Formerly known as “Tides on 25th Apartments”, the Property closed on May 27, 2021 and is comprised of a 240-unit, class B-, garden-style, multi-family apartment community consisting of 10, two-story apartment buildings and one clubhouse/leasing center. The investment plan is to renovate and reposition the Property to take advantage of its convenient location that offers access to a number of diverse employment nodes within the Phoenix MSA.

The Property is located within the Deer Valley/I-17 Corridor (“Deer Valley”) submarket, approximately 15 miles northwest of the Phoenix Central Business District and approximately 17 miles northwest of Phoenix Sky Harbor International Airport. Deer Valley has one of the largest concentrations of major employers in Greater Phoenix, with finance and insurance companies representing a notable portion of these businesses. American Express, Discover Card Services, and USAA each have a significant presence in the submarket with approximately 10,700 employees in total at the time of acquisition.

Atlantic Creek has offices in New York, NY and Palm Beach, FL and primarily targets direct and joint venture investments in opportunistic and value add office, retail, and multi-family commercial real estate, primarily located on the East and West Coasts of the U.S., Texas, and other select U.S. markets.

For further information on new acquisitions and joint venture opportunities, please contact Jon Trucano, Senior Vice President, in our Palm Beach, FL office at (561) 275-7702.