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Strategy: Multifamily Value Strategy
Clarendon Park is a 138-unit, Class A- apartment community located just west of Central Avenue in Midtown Phoenix, which is a significant employment hub with an estimated 80,000 jobs, 10 million square feet of office space, and a number of corporate headquarters within 2 miles of the Property. The Midtown area is undergoing a significant influx of restaurant, shopping and other amenities, as well as gentrification of older homes and apartment buildings. The Property was constructed in 2002 and, although the grounds and common areas are very well maintained, the interiors are largely original. Rincon plans to completely renovate and update the apartment community.