The Palms Downtown

The Palms Downtown is a Multifamily project in Downtown Phoenix.

The property is a short walk to Downtown Phoenix CBD as well as the University of Arizona & Arizona State Universities’ downtown campuses.  The property provides a quality living experience at a discount to many of the competing newer properties in the area which has led to a high occupancy rate and low turnover.

The property was originally acquired as a distressed note which was subsequently acquired from the current owner via a negotiation which was mutually beneficial for both parties.  Once the asset was acquired, it was repositioned in multiple phases.  By the middle of 2016 the asset had been completely repositioned and was operating at its full potential.