Private equity firm buys Surprise 27-unit townhome community for $8.8 million

PHOENIX — A Denver-based private equity firm recently bought a 27-unit townhome community in Surprise for over $8 million, according to Wednesday announcement.

Canopy Real Estate Partners purchased ParkView Townhomes, located near Parkview Place and Young Street, for $8.8 million.

Canopy plans to start a nine-month lease-up of the 27 townhomes, according to the announcement. Prices for the townhomes will start at $2,100 per month.

The purchase marks the first Arizona investment for Canopy. Canopy partnered with Phoenix-based firm TBBG Investments on the purchase.

What features are at the Surprise townhome property?

The Surprise property offers two- to-three bedroom townhomes with two-car garages that average 1,420 square feet per unit. Townhomes feature quartz countertops, wood flooring, appliances, walk-in closets and a washer and dryer in each townhome.

The property also features a pool, grilling areas, outdoor lounge and a dog park.

“ParkView Townhomes represents the newest townhome product available in Surprise,” Canopy founder Jay Rollins said in a Wednesday announcement. “We’re particularly excited about its location adjacent to the civic center and Texas Rangers spring training campus, which makes it an attractive offering in a growing market.”

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