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Phoenix Realty, partner buy Kent, Wash., multifamily properties

Jan 14, 2020 - SNL Financial

The properties will be rebranded under Phoenix Realty's Alvista Communities brand.

Joint venture partners Phoenix Realty Group LLC and Hanover Real Estate Investors, through an affiliated entity, bought two multifamily apartment communities in Kent, Wash., for $79 million.

The properties, which offer 361 units, will be operated by Phoenix Realty and rebranded under its Alvista Communities brand.

Phoenix Realty plans to renovate and modernize the Lake Meridian and Royal Firs com...