WhiteHaven Capital expands Phoenix portfolio through acquisition of 117-unit South Mountain square apartments

PHOENIX - Feb. 28, 2019 - PRLog -- WhiteHaven Capital is pleased to announce the acquisition of  117-unit South Mountain Square Apartments in Phoenix, Arizona. This is second acquisition in the Phoenix metro in the past six months for the company, with plans to build a portfolio of approximately 1,000 units in the market by 2020.Phoenix is the fifth largest city in the country, and the MSA is the second fastest growing large city. "Phoenix has seen the highest rent growth in the country recently. Occupancy is near record levels. This city has all of the fundamentals necessary for investing in multifamily," said Sam Grooms, Managing Partner of WhiteHaven Capital.South Mountain Square Apartments are in the South Mountain neighborhood of Phoenix. Located on Baseline Rd., this complex sees approximately 30,000 vehicles per day. Baseline Rd. is one of the most traveled fairways in all of Phoenix, and is in the midst of a significant redevelopment, with the corridor seeing incredible activity."We love what's happening in this area, and we're excited to be a part of it," said Sam Grooms. The new owner, in collaboration with the area's premier property management provider, Shelton-Cook, plan to completely renovate and rebrand the property, offering residents additional amenities that have only been seen in the submarket with newer construction.

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