Multi-Family Archives

Trends to watch in 5 commercial real estate markets

Phoenix

It’s that time of year again when commercial real estate firms analyze market activity based on numbers and reports from the first two quarters of the year, and predict how that will impact the rest of 2016 through next year. Experts in their respective markets weighed in on the findings from quarter two reports in… Read More →

5 multifamily properties sell for $10.8M

28 on Thomas is a 27-unit community located at 1225-1241 E. Thomas Road in Phoenix. (Photo courtesy of CBRE)
by in AZRE Magazine | Brokerage | Multi-Family

CBRE completed the sale of five multifamily properties in the metropolitan Phoenix area totaling more than $10.8 million. The firm’s Multifamily Investment Properties’ Brian Smuckler and Jeff Seaman brokered the following transactions: 28 on Thomas is a 27-unit community located at 1225-1241 E. Thomas Rd. in Phoenix. The buyer was 28 on Thomas, LLC of Cave… Read More →

P.B. Bell breaks ground on Uptown Phoenix apartments

Uptown Phoenix apartments
by in AZRE Magazine | Construction | Multi-Family

Multifamily housing developer, P.B. Bell, started construction on The Curve at Melrose, a new luxury apartment community positioned within the Melrose District in downtown Phoenix. Located at the northeast corner of Glenrosa Avenue and 6th Drive, The Curve at Melrose will offer 204 luxury apartment homes in a vibrant and eclectic urban neighborhood positioned within walking distance… Read More →

Class B Phoenix apartments sell for $25.2M

Phoenix apartments
by in AZRE Magazine | Multi-Family

Cushman & Wakefield negotiated the $25.2 million sale of Crossroads Apartments, a 316-unit apartment community located at 2222 W. Beardsley Rd. in Phoenix, to Phoenix-based CS1031 Crossroads Apartments (Rincon Partners). Cushman & Wakefield Executive Managing Directors David Fogler and Steven Nicoluzakis of the Phoenix office represented the seller, WW Crossroads Apartments LLC (Olympus Property) of Fort Worth, Texas. Crossroads… Read More →

5 property Tucson portfolio sold to Colorado firm

Tucson
by in AZRE Magazine | Multi-Family

Colliers International in Greater Phoenix has negotiated the sale of a portfolio containing five apartment communities in Tucson. The properties were the first Arizona acquisition for a Colorado-based investment group. California-based Hamilton Zanze sold the portfolio to Colorado-based Monarch Investment & Management Group, LLC. Cindy Cooke and Brad Cooke of Colliers International in Greater Phoenix… Read More →

Service provider picked for $12M affordable housing development

affordable housing
by in AZRE Magazine | Multi-Family

Rainbow Housing Assistance Corporation, a nonprofit organization that provides housing programs for residents of rental housing communities, has been selected by developer Gorman & Company, Inc. as the service provider for West End Station, a new $12 million, 70-unit affordable housing development in Tucson. West End Station, which will be located at the west end of the… Read More →

CBRE completes 248-unit Chandler apartment sale

CBRE
by in AZRE Magazine | Brokerage | Multi-Family

CBRE has completed the $29.5 million sale of Pheasant Run, a 248-unit multifamily community located at 2101 N. Evergreen Street in Chandler, Arizona. Tyler Anderson, Sean Cunningham, Asher Gunter and Matt Pesch with CBRE’s Phoenix office negotiated the transaction. The seller was California-based Acacia Capital. The buyer was Texas-based Phoenix Property Company. “Pheasant Run is… Read More →

Canadian investor buys Tempe apartments for $21.3M

Tempe apartments
by in AZRE Magazine | Multi-Family

Colliers International of Greater Phoenix negotiated the $21.3 million sale of The Arbors at 5th Apartments located at 805 W. Brown St. in Tempe, AZ. The community was purchased by a private investor based out of Vancouver, Canada. Senior Executive Vice President Cindy Cooke and Senior Vice President Brad Cooke of Colliers International in Phoenix… Read More →

Colliers negotiates 194-unit Flagstaff apartment sale

Colliers
by in AZRE Magazine | Brokerage | Multi-Family

Colliers International in Greater Phoenix negotiated the sale of The Commons at Sawmill. The 194-unit asset is located at 901 S. O’Leary St. in Flagstaff, Ariz. The Commons at Sawmill is located within walking distance of Northern Arizona University (NAU) in the heart of Flagstaff. The property services are privately owned student housing community. Senior… Read More →

Roosevelt Row apartments sell for $1.2M

Roosevelt Row
by in AZRE Magazine | Brokerage | Multi-Family

The Phoenix offices of Marcus & Millichap (NYSE: MMI), negotiated the sale of The SEBO, an early century historic apartment building located in the prestigious Roosevelt Historic District of Downtown Central Phoenix. The asset commanded a sales price of $1,200,000 or $150,000 per unit. The property is located at 402 W. Roosevelt St., Phoenix, Arizona. Brian Tranetzki and… Read More →

Valley posts high percentage of luxury apartment construction

Infill development

Cranes are everywhere in Downtown Phoenix and around the Valley as development continues to explode. But what exactly are they building? Chances are it’s some sort of luxury development, whether it’s apartments to rent or condominiums to buy. These high-end multifamily properties seem to have always popped up in Scottsdale, but Phoenix especially has enjoyed… Read More →

Midtown Phoenix apartments sell for $22M

Midtown Phoenix apartments
by in AZRE Magazine | Multi-Family

ABI Multifamily, Arizona’s largest locally operated dedicated multifamily brokerage and advisory services firm, is pleased to announce the $22,000,000 sale of The Hawthorne Apartments, a 182-unit (out of 276) apartment community located in Phoenix, Arizona. The seller is Arizona-based Pacific Real Estate Partners, and the buyer is Washington-based Weidner Apartment Homes, a private investment group… Read More →

Passco Companies acquires Phoenix multifamily community

Passco Companies
by in AZRE Magazine | Multi-Family

Passco Companies, LLC has acquired Almeria at Ocotillo, a 389-unit, Class A luxury multifamily community located within the Ocotillo Master Planned Community, an upscale master-planned community in the dynamic Phoenix submarket of Chandler, Arizona, for approximately $80 million. The apartment community is located at 2470 and 2471 W. Edgewater in Chandler, Arizona. Sean Cunningham at CBRE represented… Read More →

CBRE completes 5 multifamily transactions in Metro Phoenix

_studio_on_12th_street
by in AZRE Magazine | Brokerage | Multi-Family

CBRE has completed the sale of five multifamily properties in the metropolitan Phoenix area totaling $11.7 million. Brian Smuckler and Jeff Seaman, of the firm’s Multifamily Investment Properties group, brokered the following transactions: Sandalwood Square is a 68-unit community located at 4325 N. 23rd Avenue in Phoenix.  The Buyer was HK 24th Street, LLC of… Read More →