FirstStreet Happy Valley in Phoenix

Harvard Investment Sells Build-to-Rent Community in Phoenix for $87.9 Million

by Channing Hamilton

PHOENIX — Harvard Investments has sold FirstStreet Happy Valley, a 212-unit build-to-rent community in Phoenix. Spruce Capital Group, a private family-owned investment firm, acquired the asset for $87.9 million. FirstStreet Happy Valley offers one-, two- and three-bedroom floor plans with attached and detached garages. The average size of the units is 1,904 square feet. Amenities include a dog park and washing station, a pool, spa, fitness center and clubhouse. The property was built two years ago and was 94 percent occupied at the time of sale.

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