Multi-Family Archives

CBRE completes $42.65M sale of apartment communities

CBRE
by in AZRE Magazine | Brokerage | Multi-Family

CBRE finalized the sale of Highland Park and Park View, two multifamily communities totaling 472 units and located in Tempe. Together, the properties sold for $42.65 million. A joint venture sponsored by Scottsdale-based Everest Holdings purchased the communities from San Diego-based Stratford Partners. Tyler Anderson, Sean Cunningham, Asher Gunter, and Matt Pesch negotiated the transaction with CBRE’s… Read More →

Goodyear RV resort sells for $6.15M

Goodyear
by in AZRE Magazine | Multi-Family

The NAI Horizon team of Russell and Andrew Warner represented the seller in the $6.15 million sale of Destiny Phoenix RV Resort at 416 N. Citrus Rd., in Goodyear. NAI Horizon represented Destiny-Phoenix West LLC, and the buyer was Walter Johnston. Destiny Phoenix RV Resort features 284 paved RV sites, a heated pool and spa,… Read More →

First Vistancia rental community opens

Vistancia
by in AZRE Magazine | Multi-Family

Luxury rental home developer, BB Living opened its newest for-lease neighborhood in the award-winning Vistancia master plan. The neighborhood features 134 well-appointed townhomes in Acacia Grove in The Village at Vistancia and offers three- and four-bedroom with two-and-a-half baths starting in the $1,300s per month. A first of its kind rental home option at Vistancia, BB… Read More →

CBRE sells Courtney Village Apartments for $45.5M

Courtney Village
by in AZRE Magazine | Multi-Family

CBRE completed the sale of Courtney Village, a 368-unit multifamily community located at 4848 E. Roosevelt St. in Phoenix, Arizona. The property sold for $45.5 million. Tyler Anderson, Sean Cunningham, Asher Gunter and Matt Pesch with CBRE’s Phoenix office negotiated the transaction on behalf of the seller, California-based PASSCO. The buyer was Denver-based Continental Realty Advisors. Developed in 2002,… Read More →

Corporate Center at Kierland sells for $24M

Corporate Center at Kierland
by in AZRE Magazine | Brokerage | Multi-Family

The Corporate Center at Kierland sold for $24,350,000 in a sale to Kierland Sky, LLC., according to an announcement by Commercial Properties Inc. Trent Rustan and Josh Gosnell from Commercial Properties Inc. represented the Scottsdale-based buyer, Kierland Sky, LLC in the purchase of the 107,860 square foot, Class A office building at 14635 North Kierland Boulevard in… Read More →

CBRE completes sale of Tamarron Apartments

Tamarron Apartments
by in AZRE Magazine | Brokerage | Multi-Family

CBRE completed the sale of the Tamarron apartments, a 328-unit multifamily community located at 4410 N. 99th Avenue in Phoenix, Arizona. Tyler Anderson, Sean Cunningham, Asher Gunter and Matt Pesch with CBRE’s Phoenix office negotiated the transaction on behalf of the seller. Joseph Dietz with Orion Investment Real Estate represented the buyer. “Tamarron is ideally… Read More →

Cushman & Wakefield sell Chandler apartments for $21.65M

Chandler Apartments
by in AZRE Magazine | Brokerage | Multi-Family

Cushman & Wakefield negotiated the sale of Chandler apartments, which sold for $21.65 million. Park Tower Apartments, a 180-unit value-add multifamily investment at 1283 W. Parklane Blvd. in Chandler, was sold to Chicago-based 29th Street Capital. Cushman & Wakefield Executive Managing Directors Steven Nicoluzakis and David Fogler of the Phoenix office represented the seller, Scottsdale-based Clear Sky Park… Read More →

Velaire at Aspera officially opens in Glendale

Aspera
by in AZRE Magazine | Multi-Family

P.B. Bell has opened Velaire at Aspera, a luxury apartment community within the long-awaited Aspera mixed-use development in Glendale, Arizona. Velaire at Aspera is the third new community P.B. Bell has opened since late September. Located at 75th Avenue and the Agua Fria Loop 101 Freeway, Velaire at Aspera offers 286 luxury apartment homes in a resort-like… Read More →

Ritz-Carlton Residences sell $249M in 1 day

FINAL Ritz PV - Pool Rendering_email size

The Ritz-Carlton Residences in Paradise Valley obtained property reservations for 89 of the 91 villas released at the one-day, private sales event last Saturday totaling $248,760,000. “We believe it was the largest real estate event ever in Arizona,” said Jan Bracamonte, spokeswoman for Five Star Development, the project’s developers. She describes the villas as “the… Read More →

Marcus & Millichap sells Phoenix multifamily complex

multifamily
by in AZRE Magazine | Multi-Family

The Phoenix office of commercial real estate investment services firm, Marcus & Millichap (NYSE: MMI), completed the sale of The Shorewood, a recently renovated mid-century art deco style apartment building in the Midtown Phoenix corridor. The apartments sold for $2,650,000 or $126,190 a unit, and are located at 3601 N. 5th Ave. in Phoenix. Brian Tranetzki and Rich Butler, multifamily investment… Read More →

Deer Valley apartments sell for $33M

Deer Valley apartments
by in AZRE Magazine | Brokerage | Multi-Family

Colliers International in Greater Phoenix negotiated the sale of The Park at Deer Valley apartments at 17425 N. 19th Ave., in Phoenix, for $33 million or $75,688 per unit. Executive Vice Presidents Bill Hahn, Jeff Sherman and Trevor Koskovich with Colliers’ Phoenix office represented both the buyer and seller. The seller was Bruckal Properties, Inc.,… Read More →

Scottsdale luxury apartments to offer hotel perks

Luxury apartments
by in AZRE Magazine | Multi-Family

A new luxury living apartment complex is opening up in Scottsdale in mid-June, a stone’s throw from local hangout spot Hotel Valley Ho. When The Standard opens, it will be the only luxury apartment community that is partnered with a hotel to offer resident perks such as access to the Valley Ho pool, spa and room… Read More →

Marcus & Millichap arrange $13.8M sale

Sale
by in AZRE Magazine | Brokerage | Multi-Family

The Phoenix offices of Marcus & Millichap (NYSE: MMI) arranged the sale of Redwood Place, an 186-unit multifamily community in Phoenix. The $13,805,000 sales price measures out to more than $74,000 per unit. “Built in 1984, Redwood Place has a collection of interior characteristics and contemporary amenities that are atypical of its era,” says Cliff David,… Read More →

New homes coming to Biltmore area

Biltmore
by in AZRE Magazine | Multi-Family

Presidio Residential Capital has partnered with Family Development to build a new community called Encue, offering 46 single-family attached homes at the southwest corner of Campbell and 25th Street near the Biltmore neighborhood in Phoenix. Vertical construction has already begun at the site. The retail value of this development will exceed $22 million. The two-acre property was the site of… Read More →