Multi-Family Archives

Colliers International completes sale of 1,114-Unit portfolio

rsz_propertymanagement

The Cooke Multifamily Team at Colliers International in Greater Phoenix recently completed the sale of the 1,114-unit, AZ 3 multifamily portfolio in Phoenix. The value-added properties total 989,463 square feet and combined acreage of 44.56. The size of this Class A and Class B+ portfolio attracted attention from investors around the world. The deal was awarded to an… Read More →

P.B. Bell adds four properties to management portfolio

Vestar

P.B. Bell, a leader in multi-family housing development, management and acquisitions, has added four properties to its growing management portfolio.  The additions expand P.B. Bell’s reach in the East Valley with properties in Gilbert, Tempe, Old Town Scottsdale and North Scottsdale. “Our goal is to maximize the resident experience at every apartment community we manage,… Read More →

ABA Project Profiles: Arizona’s Finest

Arizona Cancer Center

Arizona Builders Alliance is a partnership between the Arizona chapters of the Associated Builders & Contractors (ABC) and the Building Chapter Associated General Contractors (AGC). It represents more than 250 contractors, suppliers and professional service firms in the commercial construction industry. Here are spotlight projects its members have been working on this year. Airport I-10… Read More →

ABI funds the sale of Palm Valley Apartments for $27.2M

Palm Valley Apartments Photo

ABI Multifamily, a dedicated multifamily brokerage and advisory services firm, has announced the $27,200,000 / $103,030 Per Unit sale of the 264-unit, Palm Valley Apartments in Goodyear, AZ. Palm Valley, originally built in 1997/98, features spacious 1, 2 and 3-bedroom units with a weighted average size of approximately 893 square feet with full size washer/dryer in… Read More →

Former home of Caliente Construction sold for $101/SF

Caliente

GPE Commercial Advisors, an award winning commercial real estate firm in Arizona, secured the sale of the former home of Caliente Construction, a 6,027 SF one-story flex/industrial building located at 242 South El Dorado Circle in Mesa for $610,000 ($101/SF). “Caliente Construction is so pleased with the way GPE Companies managed the sale of our… Read More →

Carefree approves $45M luxury downtown condo project

TOCFEasyStreetRendering08-05-15

Carefree further strengthened its image as one of Arizona’s emerging residential and commercial development areas with the approval by the Town Council of Easy Street, a $45 million project of luxury condominiums in the downtown Carefree area by developer Ed Lewis. Mr. Lewis, through his Scottsdale-based Butte Companies, recently developed The Landmark ultra-luxury urban condominiums… Read More →

San Milan homes bucks the high-density multifamily trend

Mark-Taylor typical low-density community-2

New apartment communities are popping up everywhere, due to strong demand fundamentals and a growing desire for the flexibility afforded by renting rather than owning. The vast majority of multifamily developments underway in the Valley today target urban-style living. Mark-Taylor’s latest project, San Milan, is a drastic deviation from the emphasis on high-density living…smack dab in the heart of… Read More →

Deco Communities brings $40M condos to Phoenix

Edison

The heart of Phoenix’s urban core is getting a hip, new neighbor. This fall, Scottsdale-based Deco Communities will break ground on it’s latest contemporary condominium offering, Edison Midtown, a new mid-rise building to be located at 3131 N. Central Ave. along the Light Rail corridor in Midtown Phoenix. The location for Edison Midtown at the… Read More →

New condo project downtown near Roosevelt Row

en Hance Park Elevation FInal

Construction begins next week on en Hance Park, a 59,000-square-foot condominium project in downtown Phoenix slated for completion in June 2016. Developed by Sencorp, a Chilean-based developer with housing projects worldwide, en Hance Park is one of the first new condo developments Phoenix has seen in several years. Located at 1130 N. 2nd Street, the… Read More →

Acquisition of Chandler office condo unit sells for $862K

Justin

Southgate Commerce Center II recently sold for approximately $862,000.  Senior Advisor, Justin Horwitz with Sperry Van Ness, LLC in Phoenix represented a client into the acquisition of an office condo unit at 7415 W. Boston St., Chandler, AZ 85226.  This transaction involved a sale leaseback.  The Seller was represented by Matt Leonard with Levrose Real… Read More →

ORION announces two multifamily transactions in Phoenix

Maryland East Apartments

ORION Investment Real Estate has announced the sale of two small apartment communities located in the Phoenix MSA. Located off the Loop 202 Freeway and Van Buren Street, Belaflora Condominiums sold for $1,255,000 or $83,667 per unit. This 15-unit portfolio sale of Class “A” Condos is part of a larger 185-unit complex within a strong… Read More →

Scottsdale’s Engel & Volkers partners with Bosa Development

real estate market

Bosa Development, the foremost leader in superior quality, luxury, design-focused waterfront residential living and S&P Real Estate have partnered with world-renowned Engel & Völkers Scottsdale to introduce Arizona residents to Bosa’s newest bayside project in San Diego, Pacific Gate. Engel & Völkers‚ Sandra Wilken, franchise broker and brokers Babbi Gabel and Mary Grassl are heading… Read More →

Multifamily property to be reverted to townhomes

Valencia-02

CBRE has completed the sale of a rental property in North Central Phoenix. The Valencia Townhome community, located at 550 West Maryland Avenue, commanded a sale price of $6.59 million. CBRE Multifamily Investment Properties’ Brian Smucker and Jeff Seaman negotiated the transaction. The buyer was Valencia Townhomes, LLC of Scottsdale, Arizona. The seller was American… Read More →

Berkadia sells Mountain Top Village for $2.1M

Mountain Top Village photo

Berkadia has announced the sale of Mountain Top Village, located at 4850 South White Mountain Road in Show Low, Arizona. Managing Director Chuck LaBenz, Senior Director Greg Thielen and Associate Bryan Mummaw of the Phoenix office negotiated the transaction. Mountain Top Village sold for $2.1 million on July 10, 2015. The sales price reflects a… Read More →