Scottsdale-based real estate development and investment company Deco Communities has expanded its Arizona portfolio once again with the acquisition of Sunshine Terrace Apartments in Phoenix. The 75-unit property was purchased for $4M on Nov. 19. Sunshine Terrace joins Deco Communities expansive real estate portfolio that spans Arizona and Nevada.
Located at 5615 N. 7th Street in Phoenix, across the street from the FOX Restaurant Concepts compound housing The Yard and Little Cleo’s Seafood Legend, Sunshine Terrace is located in one of the hottest up and coming neighborhoods in North Central Phoenix.
“The 7th Street corridor is one of the most vibrant areas of Phoenix and we are pleased to expand our holdings in the neighborhood,” said Rob Lyles, Partner for Deco Communities.