Sares Regis Multifamily Funds announces the acquisition of a 240-unit community in Phoenix, Arizona

June 21st, 2021

SARES•REGIS Multifamily Value-Add Fund III, L.P. (SRMF VA-III) announces the acquisition of Level at Sixteenth on June 01, 2021. Featuring 240 units in a podium-style community built-in 2010, the property is in the desirable Biltmore neighborhood of downtown Phoenix, Arizona.

Level at Sixteenth offers diverse floorplans, including studio, one and two‐bedroom floorplans, and lofts. The units feature nine‐foot or taller ceilings, walk‐in closets, central heat and air conditioning, mountain or downtown city views, and full‐sized washers and dryers in all apartments.

Resident amenities include a resort‐style swimming pool and spa, two-story fitness center, clubhouse with a gourmet kitchen, dog run, and temperature-controlled interior corridors.

Level at Sixteenth residents also benefit from reserved underground parking and private attached garages.

Phoenix continues to show excellent property performance through the pandemic and has become a highly sought-after market for apartment investment.