Farmland Sale May Be One of the Biggest in a Region Experiencing Rising Demand.
Las Vegas, NV — Savant Investment Partners (formerly Savant Equity Group) has announced that it has completed a $22.56 million investment acquisition in Phoenix, Arizona on behalf of a family office investor client, acquiring a 192 unit Class A multi-family project known as The Retreat at The Raven, adjacent to the Raven golf course in south Phoenix.
Savant Investment Partners is a Las Vegas, Nevada based real estate investment firm, which handles a wide variety of real estate investment matters across the U.S. including multi-family, office, industrial, retail and land investments. Savant is also known for its internationally renowned investment letter, “The Savant Report.” (www.SavantReport.com) Savant recently completed this transaction in the midst of fierce competition for this “A” quality property. The quickly recovering real estate markets in areas such as Phoenix have become a prime focus for institutional and private investors alike.
“Multi-family real estate investments has always been, and will continue to be a core real estate asset,” says Jordan Wirsz, CEO of Savant Investment Partners. “There are tremendous growth opportunities for investors who see the value proposition of increasing rents and below replacement cost prices. We are seeing large scale investment participation from a variety of our clientele including family offices and institutional investors; however private investors continue to be our most active buyers.”
Savant Investment Partners led the acquisition efforts including the asset selection, underwriting, due diligence, and financing negotiations/consummation. Many well-funded individual investors are flocking to the multi-family housing asset class, not the least of which are foreign investors from around the world. “Multi-family real estate is regaining its attractiveness very quickly,” said Mr. Wirsz. He continued, “rents were depressed during the economic and real estate downturns, but the occupancy rates stayed relatively positive. Now that the economic and real estate crisis’ appears to be behind us, the rent growth is projected to be dramatically stronger than in previous years…And we want to participate in that.”
Investing in multi-family real estate is an opportunity to take advantage of the efficiencies and scalability of apartment rentals versus individual single family homes. Wirsz added, “Although multi-family assets typically trade on a traditional capitalization rate method, we see several alternative exit strategies that we believe will yield greater returns overall.” Savant Investment Partners will continue its role being actively involved in the macro management of the Phoenix acquisition.
Savant Investment Partners manages the real estate affairs an estimated $200 million real estate portfolio including Class A multi-family projects, industrial properties, office properties, mixed use special purpose facilities, development land, and large single family home portfolios.