News

December 20, 2024

Yardly McDowell Acquired

Atlantic Creek Real Estate Partners, LLC (“Atlantic Creek”) is pleased to announce the joint venture acquisition of Yardly McDowell (“Yardly” or the “Property”) in Phoenix, Maricopa County, AZ. The acquisition of the Property closed on December 20, 2024. Yardly is comprised of a 167-unit, class A, build-to-rent apartment community consisting of 148 total buildings (136 residential buildings and 12 other buildings). The investment plan is to acquire the Property at an attractive basis, bring professional management to the Property, and take advantage of its convenient location that offers excellent access to several of the Phoenix MSA’s major employment hubs.

Yardly is strategically situated along Interstate 10, providing a 15-minute commute to Downtown Phoenix, which is home to Phoenix’s largest employment center with more than 140,000 jobs at the time of acquisition. The I-10 Industrial Corridor, located just south of the Property, is home to over 90,000 manufacturing and logistics jobs – one of the highest job concentrations in the entire Phoenix MSA and continues to expand, growing by 45% since 2015 to 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 multi-family commercial real estate and selectively within industrial, student housing, self-storage, and other property types, primarily located in the Southeast and Southwest of the U.S., 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.