Revival on Thomas | 5008 East Thomas Road, Phoenix, AZ 85018 | 155 Units | $21,000,000 | $135,484 Per Unit | $219.66 Per SF
FOR IMMEDIATE RELEASE
Company Website: www.ABImultifamily.com
Phoenix, Ariz. – December 19, 2019: ABI Multifamily – the leading multifamily brokerage and advisory services firm in the Western US – is proud to announce the $21,000,000 / $135,484 per unit / $219.66 per SF sale of the Revival on Thomas apartment community in Phoenix’s Lower Arcadia neighborhood.
The 155-unit garden-style community was built in 1979 and features standard amenities as well as convenient access to public transportation, area freeways, restaurants and retail outlets. The community offers an attractive mix of studio, one- and two-bedroom units, with sizes ranging from slightly more than 400 SF to nearly 820 SF.
The Buyer, Tides Equities, was represented by ABI Multifamily Partners Doug Lazovick and Eddie Chang, with support from Senior Managing Partners John Kobierowski, Alon Shnitzer and Rue Bax.
Chang said, “With very little inventory of value-add properties with 100-plus units in the Lower Arcadia and adjacent high-prestige areas in the East Phoenix submarket, Revival on Thomas adds to Tides Equities’ already dominant presence in the marketplace. This should be a plug-and-play opportunity for their investment model.”
The Seller is a private investment firm based in Scottsdale, Ariz. The Buyer — California-based Tides Equities — is a leading commercial real estate investment company focused on investments throughout the Western United States. It specializes in multifamily real estate with a high value-add upside.
ABI Multifamily (http://www.abimultifamily.com/) is a brokerage and advisory services firm that focuses exclusively on apartment investment transactions. With offices in Phoenix, Tucson, Sacramento and San Diego, the experienced advisors at ABI Multifamily have completed billions of dollars in sales and thousands of individual multifamily transactions. ABI Multifamily incorporates a global approach with regional real estate expertise to successfully complete any multifamily transaction, regardless of size and complexity.