June 27, 2019

Villas on 35th & Pointe Metro Acquired

Atlantic Creek Real Estate Partners, LLC (“Atlantic Creek”) is pleased to announce the joint venture acquisition of Villas on 35th, formerly known as Solano Ridge I, (“Villas”) and Pointe Metro, formerly known as Solano Ridge II, (“Pointe”, and together with Villas, the “Properties”) in Phoenix, Maricopa County, AZ. The Properties closed on June 27, 2019 and are comprised of 561 total units spread across two adjacent class B, garden-style, multi-family apartment communities consisting of 31, two and three-story buildings. The investment plan is to renovate and reposition the Properties to take advantage of their convenient location that offers access to numerous major employers and retail amenities within the Phoenix MSA.

The Properties are located within the North-Central Phoenix Sunnyslope (“Sunnyslope”) submarket, approximately nine miles northwest of the Phoenix Central Business District and approximately 11 miles northwest of Phoenix’s Sky Harbor International Airport. The Properties benefit from their proximity to Interstate-17 (“I-17”), approximately one mile east of the property. I-17 is a major transportation corridor in Phoenix, connecting the Sunnyslope neighborhood (and the Properties) to growing employment nodes located to the north and south.

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 Joshua Schwalbe, Senior Vice President, in our New York, NY office at (212) 381-7617 or Jon Trucano, Senior Vice President, in our Palm Beach, FL office at (561) 275-7702.