Taurus Investment Buys Phoenix Community for $26M

Article originally posted on HERE on August 11, 2020

Taurus Investment Holdings has made its Phoenix debut by acquiring Avenel on 16th, a 200-unit garden-style community just north of the city’s downtown. Rincon Partners sold the asset for $25.9 million, according to Yardi Matrix, with NorthMarq Capital originating an $18.8 million Freddie Mac loan for the deal.

Located at 3815 N. 16th St., Avenel on 16th was built between 1981 and 1984 and offers studio, one- and two bedroom units. Common-area amenities include a spa, laundry facilities and two swimming pools. The property also features 288 parking spaces.

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