Investment Property Associates to Redevelop Sienna Springs and Willowick Square in Phoenix
Investment Property Associates, also known as IPA, recently purchased Sienna Springs apartment complex and Willowick Square office, both of Phoenix, for $20.5 million and $5.9 million respectively. Colliers International in Phoenix helped to complete the double sale for the buyer.
Both properties are a mile from the Camelback Corridor and near the Metro Light Rail and State Route 51, a prime location facing major renovations. IPA partner Scott Brooks said, “There is an exciting transformation happening in that area and we believe our unique approach modeled after true village-style living will really complement the vision and growth of the neighborhood.”
According to AZ Big Media, IPA’s plans for the for the sites include redevelopment with high-end multifamily and senior apartments and possible some mixed-use components.
To read the full story from AZ Big Media, click here.