Clear Capital closes on multifamily property in Arizona

Clear Capital, LLC, a private equity investment firm specializing in multi-housing real estate, has acquired a 180-unit multifamily property in Phoenix, Arizona to be rebranded “Aspire West Phoenix.”

This transaction marks Clear Capital’s second investment in Phoenix, its sixth in Arizona, and its 37th in the United Sates, a statement from the company said.

The property is situated on Thomas Road, a major thoroughfare in the West Phoenix area. It has studios, one-bedroom, and two-bedroom floorplans, and boasts resort-style amenities including three pools, a new dog park, and outdoor activity areas with cornhole courts, covered picnic tables, and gas barbeques. Clear Capital said it has plans to fully renovate the property’s older units and further update previously remodeled units. It will also upgrade exterior lighting and the HVAC infrastructure to reduce utility expenses.