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Milestone Group Buys Two-Property Multifamily Portfolio Totaling 448 Units Near Phoenix

Pavililions-Arrowhead-Glendale-AZ

The 248-unit Pavilions at Arrowhead in Glendale, Ariz., features a swimming pool, clubhouse with a spa and hot tub, sundeck, fitness center and gas grill areas.

MESA AND GLENDALE, ARIZ. — An affiliate of The Milestone Group has purchased two multifamily assets totaling 448 apartments through a recapitalization valued at approximately $85 million.

Located at 1865 N. Higley Road in Mesa, Alta Mesa features 200 garden-style apartments in a mix of studio loft, one-, two- and three-bedroom layouts. Community amenities include two swimming pools, a hot tub, clubhouse, fitness center, racquetball court and movie theater.

Located at 7400 W. Arrowhead Clubhouse Drive in Glendale, Pavilions at Arrowhead offers 248 garden-style units in a mix of one- and two-bedroom layouts. On-site amenities include a pool, clubhouse with a spa and hot tub, a sundeck, fitness center and gas grill area.

Milestone plans to upgrade and renovate the properties, which were constructed in 1997 and 1999, respectively.

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