Terra Vista Palms is a 138-unit apartment building located in Glendale, Arizona. The two-story, garden-style property, was originally built in 1975 and is individually metered for electricity. Terra Vista offers a good unit mix of studio (5%), one-bedroom (37%) and two-bedroom (58%) units with an average size of 690 square feet. Common-area amenities include onsite laundry, two community swimming pools, covered parking, BBQ picnic areas and a children’s playground.

The property was acquired by an experienced, Canadian-based, private investor with other Arizona assets. They have been investing in the valley since 2013 and are a repeat client of Tower Capital. They plan to add value to the property through tightening up operations and gradually increasing rents.