Rockpoint and Related, two venture partners, have recently sold the Town Deer Valley in Phoenix for a total of $131.1 million. The property consists of 388 multifamily units and was purchased by Goodman Real Estate at a rate of $337,887 per unit. Cliff David and Steve Gebing from Institutional Property Advisors represented the seller in this transaction while also procuring the buyer.
According to IPA’s Cliff David, “Town Deer Valley is strategically positioned to take advantage of the booming economic activity driven by Taiwan Semiconductor Manufacturing Company’s massive chip manufacturing facility.” Built on 18 acres in 2024, Town Deer Valley offers residents amenities such as a clubhouse with an arts and crafts room, poker room, and sundry shop called La Galere. Additionally,the fitness center is located in its own building spanning over 3
