PHOENIX – August 12, 2021 – Berkadia announced today the sale of Brookside, a 204-unit garden-style multifamily property in Phoenix, Arizona. Senior Managing Directors Ric Holway and Mark Forrester and Senior Director Dan Cheyne of Berkadia Phoenix completed the sale on behalf of the seller. The buyer was Arizona-based Rise48 Equity, LLC., and the deal closed on July 30.
“Brookside Apartments presented a strong value-add opportunity within the expanding West Phoenix market,” said Holway. “The community offered a mix of classic and renovated apartment homes with multiple opportunities to enhance the community through capital infusion.”
Located at 6131 W Thomas Road, Brookside features studio, one- and two-bedroom floor plans in a two-story garden-style design. The property offers residents convenient access to Desert West Park, Interstate 10, the new Loop 202 interchange and the shops and restaurants along Thomas Road.