"While we are still very committed to acquiring core plus properties, well-located 1980's workforce housing may indeed represent some of the most compelling opportunities over the next 24 months," said Sam Grooms, a principal of WhiteHaven.
The Rio, built in 1986, is located in Mesa, Arizona, which is not only the largest suburb of Greater Phoenix, but the largest suburb in the United States. Mesa was recently ranked fourth in the nation for economic growth.
The property features a mix of one and two-bedroom units and community amenities include a resort-style pool and covered grilling areas. The property is located less than one mile from the Loop 202 Freeway, one of the busiest arterials in the Phoenix Metro. Residents enjoy easy access to some of the best shopping and entertainment in Phoenix.
About WhiteHaven
WhiteHaven is a real estate firm with a focus on multifamily real estate in Greater Phoenix. By committing to extensive programmatic improvements on core plus and value-add assets, WhiteHaven maximizes value for their investors, tenants, and the Phoenix community. Since its inception, WhiteHaven has transacted over $450 million, including the full-cycle disposition of five assets. To learn more, visit www.whitehaven.com.
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Source: WhiteHaven
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