Lexington on Central

Lexington on Central

Phoenix, Arizona

Type
Multi-Family Acquisition
Acquired
April 2007
Sold
May 2010
Fund
Cypress Realty VI

Acquisition of a 131-unit Class B multi-family asset along Central Avenue north of downtown Phoenix.  Built in 2000, the property was poised for a light value-add strategy including new countertops, stainless fixtures, vinyl flooring and modern blinds. Post-acquisition, the City completed construction on a new light rail stop across from the property, allowing for quick and convenient access to downtown Phoenix and beyond.