HIG purchased a a 51-unit, mid-century apartment community set on 4 acres in the beautiful Biltmore area of Phoenix in a 1031 exchange. The units have been steadily upgraded along with modernization of the common areas with a focus on creating a sexier, sleeker pool experience. Rent increases have outpaced budget numbers as the Phoenix Metro apartment market has continued its steady climb.

 

Total Project Cost: @ $5.8 MM