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PHOENIX — WWC Holdings, a Canadian investor, has acquired the 244-unit Marble Creek apartments in Phoenix for $16.7 million. The community is located at 5601 W. McDowell Road.
Marble Creek was built in 1985. It was 96 percent occupied at the time of the sale.
WWC plans to normalize rents and bring them to market average. The company will also invest in washer/dryer installs and interior upgrades to units.
Trevor Koskovich, Bill Hahn and Jeff Sherman of Colliers International negotiated the sale transaction. The seller was Marble Creek LLC, an Arizona limited liability company formed by a local, private investor.