Praedium Group Acquires 306-Unit Town Commons Multifamily Community Near Phoenix
GILBERT, ARIZ. — The Praedium Group has purchased Town Commons, a multifamily complex located in Gilbert, for an undisclosed price. The name of the seller was not released.
Comprising 24 residential buildings, Town Commons features two two-story townhouse buildings, 10 two-story carriage homes and 12 three-story, garden-style buildings. Constructed in 2018, the property features 306 units in a mix of one-, two-, three- and four-bedroom layouts, ranging in size from 776 square feet to 2,197 square feet.
Community amenities include a resort-style swimming pool, outdoor lounge, bonfire pits, barbecue grills, dog park, children’s splash pad, clubhouse with a cyber café, private work space with a 55-inch presentation television and fitness center.