Vancouver-based real estate investment trust Pure Multi-Family REIT LP has purchased a multi-family property in downtown Phoenix fro US$59 million, or CAD$74.7 million.
Alta Fillmore Apartments is an institutional-quality asset with 230 units, with an average suite size of 934 square feet. The property is situation on a 4-acre lot on near Fillmore Street and Seventh Avenue, at 601 W Fillmore Street.
The sale is expected to close in November.
The property includes luxury interiors, a rooftop lounge, pet areas featuring dog washing stations, a clubroom, pool, cabanas, bike shop and a café.
This is Pure Family REIT’s fourth acquisition in Arizona. The company’s current portfolio includes 21 properties, mostly located in Texas.
