Goodegg Investments, an award-winning women-founded and women-led commercial real estate investment firm in San Francisco, California, is pleased to announce the acquisition of North Edge Apartments – a 71-unit class B apartment community in Phoenix, Arizona.
“North Edge is a phenomenal mid-sized asset in the hidden gem Youngtown submarket within the Phoenix MSA. We are incredibly fortunate to have acquired this asset completely off-market at a time when the market in Phoenix is set to rebound in a big way in the coming months and years,” said Julie Lam and Annie Dickerson, Founders and Managing Partners of Goodegg Investments.
North Edge Apartments is the 38th multifamily acquisition that Goodegg Investments has undertaken since its inception in 2018, putting the firm’s total acquired multifamily unit count at over 9,000 units, with nearly 4,500 currently under management.
North Edge has undergone significant value-add renovations within the last 2 years, with most of its units, as well as common areas, freshly renovated and upgraded. Now stabilized, the asset has seen its strongest months of performance over the last few months, and the trend is expected to continue.
North Edge is a 71-unit Class B Core asset chosen specifically to meet investors’ goals for strong cash flow in a growing market. The asset has been acquired with fixed-rate debt and has been cash-flowing from day one.
In addition to multifamily, Goodegg is also helping its investors to further diversify their holdings through investments in cash-flowing select-service hotels geared toward business travelers. Because select-service hotels offer more limited amenities as compared to full-service hotels, they provide a strong risk-mitigated investment for investors looking to diversify.
