Investment Highlights
Townhomes at Kyrene represents TruAmerica’s fifteenth investment in the Phoenix MSA and fourteenth acquisition of 2021.
The Property represents a strong value-add opportunity as all the 240 units remain in classic condition. So, the opportunity remains to renovate all units to a consistent, premium finish-level, creating a high-end feel for future residents. TruAmerica also plans to make targeted, accretive improvements to exteriors and amenity spaces. Creating amenity improvements which will include clubhouse renovations, outdoor lighting, exterior paint, fitness center upgrades, aesthetic upgrades to the pool areas and landscaping. These renovations will improve the current resident lifestyle and foster a more attractive image to prospective renters.
Property Highlights
Townhomes at Kyrene is situated in the geographic center of the Phoenix MSA. All major freeway systems are immediately accessible from the community, connecting residents to Phoenix’s largest employment centers. Employment drivers in the East Valley surrounding Ravenwood Heights are highly diversified and positioned to experience exponential growth in the future. The I-10 Employment Corridor is immediately accessible from Ravenwood Heights, placing the community within a 5- to 10-minute commute of ±60,000 jobs. The diversified employers are a mix of tech manufacturing, fin-tech, and business services companies providing an expanding collection of high-paying jobs. Additionally, downtown Tempe to the north and the Loop 101 Corridor to the east were leading the Phoenix MSA for corporate expansions and office construction activity prior to the pandemic. New users and expansions in these corridors have almost entirely been in the technology and financial services sectors, which are positioned for future growth in the East Valley due to scalability and the area’s deep talent pool.
Townhomes at Kyrene residents have quick access to convenient neighborhood necessities along Baseline Road including Home Depot, CVS, Target, and a Fry’s grocery store. Directly east of Ravenwood Heights on Baseline Road, The Collective is a new neighborhood retail center recently completed in 2019 by DMB with popular local concepts include The Porch, Alamo Drafthouse Cinema, and Scramble. Directly south of Ravenwood Heights are 1.7M SF of retail and restaurant amenities situated along Elliot and Warner Roads. Destination anchors within this area include Costco, IKEA, and Dick’s Sporting Goods.
Community Amenities
• Resort-Style Pool & Spa with Water Feature Industrial Chic Clubhouse
• Modern Leasing Office and Conference Room
• Poolside Entertainment Ramada
• Barbecue Station & Dining Area
• Resident Clubhouse with Kitchen, Media Lounge & Billiards Table
• Outdoor Patio & Gaming Area
• 24-Hour Fitness Center
• ±7-Acre Greenbelt with Walking & Jogging Paths through Property
• Business Center
• Shaded Children’s Playground
Apartment Amenities
• Spacious Two & Three Bedroom Townhomes
• Attached Direct-Access 2-Car Garages (240)
• Large Kitchens with Whirlpool Appliances
• ±9-Foot & Vaulted Ceilings
• Vinyl-Plank Flooring
• Full-Size Washers & Dryers
• Walk-In Closets
• Double Vanities in Master Bedrooms
• Private Patios & Balconies
• Additional Storage
