Multi-Family Archives

Western Wealth Capital’s Janet LePage earns honor  Elnur Amikishiyev
by in AZRE Magazine | Multi-Family

Esteemed Champagne House, Veuve Clicquot, has awarded Janet LePage, CEO and co-founder of Western Wealth Capital, with its 2016 New Generation Award. LePage was selected from a shortlist of young entrepreneurs from across Canada. LePage, 35 years old, has grown Western Wealth Capital, a Vancouver, Canada-based multi-unit rental property investment firm, to the 3rd largest… Read More →

Central Phoenix apartments sell for $5.325M

Central phoenix apartments
by in AZRE Magazine | Multi-Family

Colliers International in Greater Phoenix has negotiated the $5,325,000 sale of Patio 15, a Central Phoenix apartment property located at 1523 West Colter St. “This property offered a great opportunity for the buyer to acquire real estate near the popular light rail system,” says Jeff Sherman, executive vice president with Colliers International. “Patio 15 offers… Read More →

Colliers negotiates $8.08M apartment sale

by in AZRE Magazine | Brokerage | Multi-Family

Springwood Apartments at 2540 N. 51st Ave. have been sold for $8,080,000 to a California private investor. The sale is part of the dynamic multifamily investment market attracting out-of-state buyers to Phoenix. “This buyer recognizes a terrific value-add opportunity in this property,” says Trevor Koskovich, executive vice president with Colliers International in Greater Phoenix. “The… Read More →

Q3 Phoenix office report shows vacancies falling, rents rising

Totaling 104,618 square feet, the 2777 building sits at the southwest corner of 28th Street and Camelback Road, where WFG National Title Insurance is opening its new offices. (Photo courtesy of JLL Phoenix)
by in AZRE Magazine | Multi-Family

The Phoenix office of JLL released its Q3 2016 Phoenix Office Report, highlighting benchmarks and includes the lowest vacancies since 2008 and still-rising rents. Still, Phoenix remains one of the most affordable office markets on the West Coast. “More companies are recognizing that Phoenix has an extremely strong labor pool and very affordable cost of living,” said… Read More →

Q3 multifamily report features analysis, outlook

by in AZRE Magazine | Multi-Family

 Job Growth Intensifies Apartment Demand and Construction in Tempe Hiring by large companies will generate further demand in local apartments, creating density in urban corridors, according to a report compiled by Marcus & Millichap. Continued optimism by Phoenix employers boosted job growth during the past four quarters, with increases expected throughout the year. White-collar jobs… Read More →

The Lodge, luxury Flagstaff apartments, sell for $43.6M

Cushman & Wakefield
by in AZRE Magazine | Multi-Family

Cushman & Wakefield negotiated the sale of The Lodge, a 252-unit luxury apartment community, located at 3601 South Lake Mary Road in Flagstaff, Ariz. Exchange Services, a qualified intermediary for SK5-ELA, LLC (Keller Investment Properties, LLC), purchased the property for $43.6 million. Cushman & Wakefield Executive Managing Directors David Fogler and Steven Nicoluzakis of the Phoenix… Read More →

Pathfinder acquires Phoenix multifamily properties for $34M

Pathfinder Partners
by in AZRE Magazine | Multi-Family

Pathfinder Partners LLC, a San Diego-based firm specializing in opportunistic real estate investments, acquired two Phoenix-area multifamily communities totaling 300 units. According to Lorne Polger, senior managing director of Pathfinder Partners, the transactions include the $25.6 million acquisition of Windemere Apartments, a 224-unit community built in 1986 at 2020 E. Inverness Ave. in Mesa, Arizona from Acacia Capital Corporation and… Read More →

Liv URBN’s Contour on Campbell Avenue breaks ground

Campbell Avenue
by in AZRE Magazine | Multi-Family

Liv URBN has broken ground on Contour on Campbell Ave., a collection of 111 luxury urban condominiums in the heart of the Campbell Avenue, a neighborhood in Phoenix, which spans the Camelback and Indian School business corridors. “Contour on Campbell Ave. suits homebuyers with a luxury urban sensibility. With the start of construction, we’re pleased… Read More →

Canadian investment firm buys Tempe apartments for $17M

Tempe apartments
by in AZRE Magazine | Multi-Family

Western Wealth Capital, a Vancouver, Canada-based multi-unit rental property investment firm, recently purchased the 164-unit Amber Gardens in Tempe for $17 million ($103,000 per unit). Western Wealth Capital now owns 24 properties and 3,998 units in the Phoenix area. The firm is the 3rd largest multifamily property owner in Phoenix in terms of number of properties… Read More →

CBRE completes $46M sale of Cantera Apartment Homes

Cantera Apartment Homes
by in AZRE Magazine | Multi-Family

CBRE completed the sale of Cantera, a 288-unit multifamily community located at 2475 W. Pecos Rd. in Chandler, Arizona. Tyler Anderson, Sean Cunningham, Asher Gunter and Matt Pesch with CBRE’s Phoenix office handled the transaction. The seller was Rockwood Capital and the buyer was Aukum Management. “Strong demand for multifamily housing in Chandler is reflective… Read More →

$47 million ENVY Residences open in Downtown Scottsdale

Evny Residences
by in AZRE Magazine | Multi-Family

Deco Communities‘ $47M luxury condominium tower, ENVY Residences opened in Downtown Scottsdale in late September. At 8 stories tall, ENVY Residences is the tallest residential building in Scottsdale to be built in the last decade and offers some of the city’s most resplendent views. “Our vision for bringing a cosmopolitan luxury lifestyle experience has come… Read More →

JLL sells first Downtown Phoenix apartments of new cycle

Proxy 333 totals 69,335 square feet and 118 units at 333 E. McKinley St., between Third and Fourth Streets in Downtown Phoenix.
by in AZRE Magazine | Brokerage | Multi-Family | Newsmakers

The first urban apartment project to be constructed and traded in Downtown Phoenix’s post-recession real estate upswing has sold this week in a $21.8 million deal brokered by the Phoenix office of JLL. Named Proxy 333, the project totals 118 highly amenitized urban multifamily units located in the heart of downtown’s Evans-Churchill neighborhood. The Proxy 333… Read More →

Trends to watch in 5 commercial real estate markets


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 →