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PHOENIX, ARIZ. — CREC Real Estate and Rincon Capital Partners have purchased Ascent 1829 Apartments, a multifamily community located in North Phoenix. Terms of the transaction were not released.
The owners plan to invest up to $4.2 million to renovate the common areas and upgrade interiors and appliances to bring the property on par with nearby recently repositioned residential communities.
Built in 1980 on six acres at 1829 E. Morten Ave., Ascent 1829 Apartments features 180 Class B apartments.