Flatrock Square - Englewood, NJ
January 11, 2012
Multi-Housing News online – PRG acquires $36.4M asset
… Phoenix Realty Group has acquired Canyon Creek Apartments, a 288-unit community located in Riverside, Calif. The $36.4 million transaction represents the 12th apartment community in PRG’s Southern California portfolio. The company plans to begin a $3 million renovation program at the 24-acre community. Financing was arranged by Berkadia in Los Angeles. “We will continue to add value to our portfolio with an increased focus on project management using our development expertise,” says Edward Ratinoff, managing director and head of national acquisitions at PRG…