Multi-Family Archives

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 →

224-unit Mesa apartment complex sold for $25.6M

Mesa apartment
by in AZRE Magazine | Brokerage | Multi-Family

A 224-unit Mesa apartment complex, Windemere Apartments, sold for $25.6 million to San Diego-based Pathfinder Gilbert Holdings LLC., an entity of Pathfinder Partners, according to Cushman & Wakefield, who represented the seller. The apartment community, located at 2020 E. Inverness Ave. in Mesa, was sold by Phx E. Inverness 11-B LLC, an entity of California-based Acacia Property Corporation. Located… Read More →

SVN sells Alexsi Apartments for $890K

Alexsi Apartments
by in AZRE Magazine | Multi-Family

Desert Commercial Advisors Vice-President and Investment Advisor Danny Lee represented the seller, Seacret Forum Group of Companies, in the $890,000 sale of Alexsi Apartments. Sheila Hunter with Thomas Title & Escrow Agency handled the sale transaction. The multifamily property is located at 2930 N. 38th St., which is less than a half-mile across the Tower Plaza Shopping Center,… Read More →

Canadian investors buy 2 Valley apartments for $34.96M

Arbors on 5th , at 805 W. Brown St. in Tempe, is located near Arizona State University and the light rail. (Photo courtesy of Western Wealth Capital)
by in AZRE Magazine | Multi-Family

Western Wealth Capital, a Vancouver, Canada-based multi-unit rental property investment firm, recently purchased the 197-unit Arbors on 5th in Tempe for $21.3 million ($108,000 per unit) and the 148-unit Arcadia Walk in Phoenix for $13.66 million ($92,000 per unit). After closing on these back-to-back multifamily deals in two days, Western Wealth Capital now owns 23 properties and… Read More →

Colliers negotiates $6.2M Central Phoenix apartment sale

Colliers
by in AZRE Magazine | Brokerage | Multi-Family

Colliers International of Greater Phoenix  negotiated the $6,175,000 sale of Lincoln Village apartments at 2211 W. Campbell Ave. in Central Phoenix. “Lincoln Village is a perfect example of a property purchased to take advantage of rapid rising rents in the recovering west side of Phoenix,” says Trevor Koskovich, executive vice president of Colliers International. “The… Read More →

Greystar to manage Scottsdale boutique apartments, The Standard

Luxury apartments
by in AZRE Magazine | Multi-Family

Trinsic Residential Group selected Greystar to manage The Standard Apartments in Scottsdale, Arizona. The 134-unit boutique community is located at 6811 E. Main St., adjacent to the iconic Hotel Valley Ho. The Standard is Scottsdale’s only luxury apartment community to partner with Hotel Valley Ho to offer one-of-a-kind resident amenities that include limited access to the… Read More →

Goodyear apartments sell for $15.5M

Park Shadows has 237 units, and is situated along Litchfield Road. (Photo courtesy of Berkadia)
by in AZRE Magazine | Brokerage | Multi-Family

Berkadia announced the recent sale of Park Shadows, a multifamily property located in Goodyear, Ariz. Senior Managing Director Mark Forrester, Managing Director Ric Holway, Senior Director Dan Cheyne and Associate Tom Wolff of the Phoenix office organized the $15.5 million sale that closed on July 22. The buyer, JB Partners, LLC, a Nevada limited liability company based in… Read More →

6 Arizona cities named best places to rent in U.S.

Infill development
by in AZRE Magazine | Multi-Family

Arizona’s multifamily market has been enjoying a ten year high lately, so its no surprise six Arizona cities made WalletHub’s top ten best cities in the U.S. for renters. To help prospective renters get the most bang for their buck, WalletHub’s analysts compared the 150 largest cities based on their rental attractiveness and quality of… Read More →

Phoenix multifamily market hits strongest level in 10 years

Capital Place, Downtown Phoenix
by in AZRE Magazine | Multi-Family

Colliers International in Greater Phoenix released its mid-year 2016 Multifamily Statistics, which reports that the past three months were the strongest quarter in 10 years for property sales. The multifamily market is expected to continue its improvement during the second half of the year. Investment activity reached its highest point since 2007 this past quarter… Read More →