Tower 16 Capital Partners Buys Avani North in Phoenix

Reported Oct 22, 2026 · Source: Newswire

Source: NewswireRead the full report at Newswire ↗

Deal details

Buyer
Tower 16 Capital Partners
Seller
Sorrento Property Group
Price
$31.5M
Size
325 units
Price per unit
$96,923 per unit (our calculation)
Asset class
Multifamily & Mixed-use
Transaction
Sale
Sub-market
Tucson
Metro
Phoenix
Reported date
Oct 22, 2026

Summary

NEW YORK, NY, October 22, 2026 (Newswire.com) - Raphael Toledano, founder and CEO of Sorrento Property Group, has completed the $31.5 million sale of Avani North, a 325-unit garden-style apartment community at 2660 N. Alvernon Way in Tucson, Arizona. Tower 16 Capital Partners acquires the garden-style community at 2660 N. Alvernon Way as Toledano concentrates on larger multifamily communities across the Sunbelt. Source: Newswire.

Summarized from the article; the quoted lines below are from the article itself.

Source: Newswire

Read the full report at Newswire. What the article says:

  • Deal / Buyer
    Tower 16 Capital Partners acquires the garden-style community at 2660 N. Alvernon Way as Toledano concentrates on larger multifamily communities across the Sunbelt
  • Deal / Price / Size
    Raphael Toledano Completes $31.5 Million Sale of 325-Unit Avani North in Tucson
  • Seller
    NEW YORK, NY, October 22, 2026 (Newswire.com) - Raphael Toledano, founder and CEO of Sorrento Property Group, has completed the $31.5 million sale of Avani North, a 325-unit garden-style apartment community at 2660 N. Alvernon Way in Tucson, Arizona.

Article date: 2026-10-22T19:45:00.000000Z

Frequently asked questions

Who bought the Avani North property?
Tower 16 Capital Partners bought the Avani North property in Tucson, Phoenix, according to Newswire.
How much did the Avani North property sell for?
The reported price is $31.5M, per Newswire.
Who sold the Avani North property?
The seller was Sorrento Property Group, per Newswire.

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Compiled from public sources; details can differ between sources. Always verify with the linked source.