Monday, May 17, 2021 / by Juan Grimaldo
Atlanta investor poised to spend $335M in metro Phoenix for more apartments
Cortland Partners LLC — which bought 3,000 apartment units in metro Phoenix over the past couple of years — has an appetite for more.
With 10 properties totaling 3,000 units in its metro Phoenix portfolio, plans call for investing $250 million for three more properties and building another one this year with an expected total development cost of $85 million, said Mike Altman, chief investment officer for the Atlanta-based real estate investor and developer.
"When the market was slow and everyone was in lockdown last year, we maintained constant cadence," he said. "I love Phoenix. I adore the vibe of the city and the people. I believe in this metropolitan area. I look forward to growing our portfolio from where it is today."
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By: Angela Gonzales, Senior Reporter - Phoenix Business Journal