In September 2025 Pacific Sands Funds & WhiteHaven Investments purchased The Haven Rio Apartments in Mesa Arizona. This was PSF first acquisition since 2022, and first in the Phoenix Metro. The Rio includes 44 units that were built in 1986. Pacific Sands Funds worked with WhiteHaven in a Joint Venture on the transaction. WhiteHaven that has purchased over 10 apartment deals in Phoenix over the last 5 years and owns over 300 units in the Phoenix Metro. The Haven Rio closed with a fixed 5-year Fannie Loan at 4.85% interest rate and has a target IRR over 17.6% over the 5-year term. The Phoenix Metro market is projected to experience over 20% rent growth over the next 5 years as there is limited inventory coming online, and pent-up demand due to population and job growth impacting the Phoenix Market.
