GC Square Apartments (Sold)
ASSET OVERVIEW
PHOENIX | ARIZONA
PERFORMANCE
Deal Multiple
1.91x
Total ROI
91%
IRR
14.6%
ABOUT THE ASSET
Caliber sold GC Square in March 2022 for $31,020,000.
Acquired in October 2015 for $6,465,000, this 165-unit apartment community formerly known as ‘Copper Sky Apartments’ in Phoenix, Arizona transitioned the property from Class C “workforce” apartments to Class A style student housing due to the property being located directly adjacent to Grand Canyon University.
Caliber completed a $8,300,000 renovation including new exterior paint, parking lot reconstruction, new roof, signage, security fencing, and HVA system. In addition, the leasing office, amenities, and all units have been completely transformed into modern, trendy options for students attending Grand Canyon University – one of the fastest growing Christian Universities in the country.
LOCATION
3535 W Camelback Rd, Phoenix, AZ 85019
Want to know more about this specific asset?
198-CAL-101922