Toronto-based Oxford Properties Group has acquired Ten01 on the Lake, a 523-unit multifamily property located in the Phoenix submarket of Tempe, Ariz.
The acquisition advances Oxford’s U.S. multifamily investment strategy, with plans to build a portfolio of 15,000 units by 2025 and represents its entrance into the Phoenix multifamily market.
“The closing of Ten01 on the Lake is indicative of Oxford’s appetite for well-amenitized multifamily assets in high-growth, Sun Belt markets such as Atlanta, Austin, Dallas and Phoenix, as well mountain region growth hubs including Denver,” said Jeff Turkanis, head of U.S. residential at Oxford. “Driven by favorable migration trends and the emergence of tech employment hubs attracting talent, these Sun Belt cities will be key to Oxford’s strategic plan of building out a 15,000-unit portfolio in the United States by 2025.”
Ten01 on the Lake is located in the North Tempe submarket, which has evolved over the last
