Grand Canyon University Purchases 3-Property Portfolio for $4.7M

ABI Multifamily, the Western US’s leading multifamily brokerage and advisory services firm, is pleased to
announce the $4,700,000 / $62,667 Per Unit sale of the 40 unit – Suntree Apartments, 32 unit – Casa
Quieta Apartments and 5101 N 28th Dr Tri-Plex located in Phoenix, Arizona. The three contiguous
properties are all garden-style communities which rests on approximately 3.41 acres. Built of block
construction with pitched roofs and individually metered for electricity. The combined properties boast
an attractive unit mix of 15 – 1 bedroom and 60 – 2 bedroom unit types with a weighted average size
of 737 square feet.

“Over the last several years, and to accommodate surging enrollment numbers (upwards of 25,000
students are expected by 2020) GCU has pursued an aggressive acquisition policy purchasing upwards
of 100+ acres in the last 2 years alone,” states John Kobierowski, Senior Managing Partner at ABI, and
lead broker representing the Seller. “The Seller was offered a very attractive price for the land and GCU
is one step closer to controlling the entire area surrounding its main campus, definitely a win-win for both
The Buyer is Grand Canyon University. The Seller is a private investment company based in California.
The multifamily brokerage team of John Kobierowski, Alon Shnitzer, Rue Bax, Eddie Chang and Doug
Lazovick represented the Seller in this transaction.

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