CBRE Group, Inc. has completed the sale of Canyon North, a 50-unit multifamily community, located at 2339 West Northern Ave. in Phoenix. Total consideration for the sale was $3.2 million.
Brian Smuckler and Jeff Seaman with CBRE’s Phoenix office represented both the buyer and the seller. The buyer, Calgary, Alberta-based Canyon North Properties, LP, was a first time Canadian investor that obtained new financing. The seller was South Sunshine Coast, LP.
Located in the Northwest submarket, the property was originally constructed in 1964 and partially renovated in 2016. The community features a mix of one- and two-bedroom units, is individually metered for electricity, and features convenient access to I-17 and Valley Metro light rail, which is less than a mile away at Northern and 19th avenues.