Storm Properties has acquired Rise on McDowell Apartments, a class B, 76-unit garden-style apartment community located in the booming East Phoenix submarket. Storm Properties will be implementing a complete property rebrand, including a name change to “The Landry Apartments.” Other improvements will include signage, exterior paint, modernized unit renovations, leasing office renovations, as well as an improved pool and amenities.
“We are excited to add Rise on McDowell to our growing portfolio,” says Jay Ahluwalia, president at Storm Properties. “We remain bullish on the Phoenix market due to its sustained economic and job growth. Storm is actively seeking to expand our presence in the Phoenix market and will look to acquire several additional multifamily communities in the metro area in 2022.”
Completed in 1984, the complex is comprised of one- and two- bedroom floorplans ranging in size from 635 to 920 square feet. Community amenities include a swimming
