923 sq. ft.
Avg. Unit Size
In July 2018, First Capital Advisors became a minority investor for 34th & Southern, a luxury apartment development in Phoenix, AZ. The project is being spearheaded by Evergreen Devco, Inc.
Due to its desirable location near a new grocery store and other shops, such as Target, it is in a highly marketable area with opportunities to draw in those seeking multi-family housing units. It is expected that demand for housing will increase as a result of employment growth, which is currently taking place in the area. The new, 258 unit complex will include a clubhouse, fitness center, resort-style swimming pool, dog park, and other outdoor spaces.
The property was sold in 2021. Investment returns greatly exceeded initial projections.