Sanctuary on 22nd
Sanctuary on 22nd was bought on August 2016 and is a 266-unit apartment community in Phoenix, Arizona, that was built in 1985.
Sanctuary on 22nd apartment community features spacious one and two-bedroom apartment homes. The common area amenities, including a swimming pool, a community clubhouse and covered parking. Individual units are highly functional and feature fully equipped kitchens. The property is ideally located near retail centers, public parks, schools, and Interstate 17, which links the property to the greater Phoenix metro area.
The property has been sold on October 2018 and was a well-located multifamily asset with significant value-add upside in one of the most desirable multifamily investment markets in the Western United States.
Metropolitan Phoenix is one of the nation’s fastest growing regions, consistently recognized for strong job growth and entrepreneurial environment. Affordability and a uniquely deep labor pool of applicable human capital continue to drive significant corporate investment in the market.