IMT Capital purchased the 832-unit Deer Valley Village Apartments on Tuesday for $100.5 million or $120,793 per unit. The purchase was funded by a $500 million Freddie Mac revolving line of credit dated December 23, 2013. Sellers Sterling American Property had acquired the property previously in April of 2008 for $85.2 million.
The Deer Valley Village Apartments are located at the southwest corner of 27th Avenue and the Loop 101, located near the I-17 / Loop 101 intersection, Deer Valley Towne Center and HonorHealth Deer Valley Medical Center. It was built in 1996 and includes one, two, and three-bedroom floorplans.
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