Scottsdale-based Sterling Real Estate Partners recently acquired 9.6 acres of land with plans to develop Crystal Cove, a 238-unit, Class A apartment complex in the heart of Avondale’s rapidly expanding community. The land is located in a Qualified Opportunity Zone, which provides for significant tax benefits to investors and will deliver additional multifamily housing to the rapidly growing West Valley community. “In the Phoenix metro, pricing for existing assets has now exceeded replacement cost. Sterling has always been a value investor and now, the better value is to build,” says Sterling’s president, David Zeff.
Photo courtesy of Sterling Real Estate Partners
