Multi-Family Archives

HSL acquires 44 Monroe in downtown Phoenix

Multi-Family Market - AZRE Magazine July/August 2011

HSL 44 Monroe, LLC, purchased a $50.65 million controlling interest in 44 Monroe, Arizona’s tallest luxury residential tower. Located at 44 Monroe on the northeast corner of 1st Avenue and E. Monroe Street, the property is located in the heart of the downtown Phoenix financial district. HSL purchased 184 condominium units in the 198-unit tower.… Read More →

La Cresenta Apartments wins Best of Tempe award

Global real estate investment and services firm Kennedy Wilson announced that La Cresenta Apartments, a 197-unit property managed by Kennedy Wilson for more than 10 years, has been awarded the 2015 Best of Tempe Award in the Apartment Buildings category for the second year in a row. Located at 1025 E. Orange St. in the… Read More →

Las Plazas at Old Vail breaks ground in Tucson

Site-Plan-for-PR, cbre, web

A 17-acre parcel of land at the northwest corner of Houghton and Old Vail Roads in southeastern Tucson is slated to become a new retail and restaurant hub. The development’s site work has begun at Las Plazas at Old Vail, as the project has been dubbed, in the form of under-ground utilities, grading, retention/detention, common… Read More →

Velaire at Aspera breaks ground in Glendale

Aspera, Courtesy of Todd & Associates, Inc.

The P.B. Bell Companies has begun construction on Velaire at Aspera, an apartment community within the Aspera mixed-use development in Glendale. Located at 75th Avenue and the Agua Fria Loop 101 Freeway, Velaire at Aspera will offer 286 luxury apartment homes in a resort-like setting, with amenities that include an electric-car charging station, an agility… Read More →

New to Market: January, February 2015

The Enclave at Borgata Developer: Antera Development General contractor: Wespac Architect: Davis Location: 6166 N. Scottsdale Rd., Scottsdale, Ariz. Size: 90 units; 4.77 acres Start/Completion: 2Q 2015 to 4Q 2016 The Enclave at Borgata includes 90 luxury condominium residences, featuring soft contemporary design and resort-like amenities, all within walking distance to many convenient amenities. Floor… Read More →

Smithfield Properties opens @51 in Phoenix

Central Phoenix just got a new addition to its housing life with the opening of the new, ultra-hip @51 apartment community, a project brought to the Valley by Smithfield Properties, Chicago-based developer of high-end residences and adaptive reuse projects. Designed by San Francisco-based Berkelhamer Architects, @51 is a contemporary residence set between the Biltmore area and midtown Phoenix.… Read More →

Apartment community in Phoenix sells for $525,000

Cooper, Cardinal and Company LLC, a boutique multi-family investment brokerage firm with headquarters in Phoenix, Arizona, represented the Seller in the sale of McLellan Apartments, an 8-unit turn-key multi-family community located in Phoenix, Arizona. The sale price of $525,000 equates to $65,625 per unit or $93.21 per square foot. Jack A. Cardinal, a Managing Director… Read More →

Wood Partners now leasing at Alta Scottsdale

Wood Partners - Alta Scottsdale Clubhouse
March 11, 2015 by in AZRE Magazine | Featured | Multi-Family

Wood Partners, LLC announced today the official opening of Alta Scottsdale, a $38 million luxury apartment complex with 218 units located one mile from downtown Scottsdale. The property is already 25 percent full after two months of pre-leasing. “The apartment homes at Alta Scottsdale, with avant-garde features within practical, comfortable spaces, have proven to be… Read More →

NexMetro will build leased-home neighborhood in Chandler

lease

Phoenix-headquartered NexMetro Communities, America’s builder of next-generation leased–home neighborhoods, announces the purchase of 15 acres at the northeast corner of Warner Road and Grace Boulevard, just west of Arizona Avenue, in Chandler, Arizona, where it plans to develop 194 homes. The development will feature one, two, and three bedroom floorplans and continues the developer’s charter… Read More →

Watt-AZ kicks off $25M urban infill projects

Officials from Watt Communities of Arizona and Southern California-based parent company, Watt Communities, celebrated the groundbreaking of a 51-unit, for-sale upscale urban living townhome project in central Tempe, Arizona.   Dorsey Lane is the first of five infill urban living communities, with a construction value of more than $25 million, scheduled to break ground by Watt in metro Phoenix this… Read More →

Mark-Taylor, Kitchell open San Sonoma community

The development team of Mark-Taylor and Kitchell have opened the doors to their newest rental community, San Sonoma, an expansive 590-unit community located just southwest of Warner Road and Priest Drive. The “Next Generation” community is another example of why apartment living has become so attractive. “The process of renting an apartment with Mark-Taylor is a lot like… Read More →

Portland on the Park gains traction with larger units

Portland on the Park, the highly anticipated sister property to Downtown’s award winning Portland Place, has received significant interest from potential homebuyers with 25 units already reserved. The property also has noted a surge in requests for larger floor plans, and in response, has redesigned selected homes. This change led to the creation of four… Read More →

Chandler land zoned for multifamily infill sells for $1.57M

Colliers International in Greater Phoenix recently completed the $1.575 million sale of 4.91 acres ($7.37 per square foot) of land zoned for multifamily in the heart of Chandler. MPC Development LLC of Phoenix purchased the land, located on Alma School Road between Chandler Boulevard and West Fry Road, from Grossman/Robson Associates of Phoenix. The seller… Read More →

Fractured condominiums turns class-A apartments

The Phoenix office of JLL has completed the $18.1 million investment sale of Indigo, a formerly fractured Phoenix condominium asset that over 24 months was transformed into a high demand, 108-unit Class A apartment community. JLL Executive Vice President John Cunningham and JLL Vice President Charles Steele represented the seller, Seattle-based Goodman Real Estate. The… Read More →