Dominium acquires 213-units in Phoenix, AZ: Multifamilybiz.com
May 5, 2011 - Dominium has purchased Terrace Park Apartments located in Phoenix for approximately $5 million. Dominium has plans to renovate the 213 unit property as well which will include several upgrades.
"Although Dominium has been in the multi-family business for over 40 years, we're new to Arizona", said Mark Sween, vice president and acquisition manager for Dominium. "PRAEDIUM Advisers had a laser-focus on our acquisition criteria and quickly found us several prospective properties. We ultimately settled on Terrace Park because it was exactly in the bulls-eye of the type of property we like to buy. We'll continue to work with PRAEDIUM Advisers on additional acquisitions".
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