Multi-Family Archives

Photos: Newport at Tempe brings beach-style living to Valley

The Newport
by in AZRE Magazine | Multi-Family

The border between North Tempe and South Scottsdale just got a little bit cooler with the addition of The Newport at Tempe, a new luxury home community by Newport Beach-based Risi Development. The latest phase of The Newport shows its 38 new single-family homes that brings California beach house-style living to one of the Valley’s most… Read More →

Cushman & Wakefield negotiates sale of Tempe lakefront property

Tempe lakefront property
by in AZRE Magazine | Brokerage | Multi-Family

Cushman & Wakefield negotiated the $25.13 million sale of The Nines Apartments, on behalf of owner FPA Multifamily, LLC of San Francisco. The buyer acquired the property with a $19.522 million dollar loan provided by Brandon Harrington and Matt Steffen of Walker & Dunlop in Phoenix. Located at 999 E. Baseline Rd. in Tempe, Ariz., the… Read More →

Tucson apartments sell for $3.12M

sold
by in AZRE Magazine | Multi-Family

Marcus & Millichap (NYSE: MMI), a commercial real estate investment services firm with Phoenix offices, completed the sale of Tucson apartments, the Desert Cove, a 70-unit apartment property. Don Morrow, regional manager of the firm’s Phoenix office, said the asset sold for $3,120,000. Hamid Panahi, James Crawley, Cliff David and Steve Gebing, investment specialists in Marcus &… Read More →

Solving the dog poop problem at apartments

The Residences at Fountainhead (Photo courtesy of Pinnacle)

Walking out of your luxurious downtown apartment to a courtyard riddled with dog-laid landmines and the stink of — for lack of a better term — poop isn’t exactly everyone’s favorite thing in the world. To combat the rise of doggie dropping being left on the ground at apartment complexes, despite readily available clean-up bags… Read More →

Apartments near GCU sell for $5.53M

ABI Multifamily
by in AZRE Magazine | Multi-Family

ABI Multifamily, a dedicated multifamily brokerage and advisory services firm, is pleased to announce the $5,530,000, or $30,385 Per Unit sale of the 182-unit, Alta Vista Village Apartments, located in Phoenix, Ariz. Built in several phases from 1959 to 1973, the property features a mix of Studio, 1, 2 and 3-bedroom units, with a weighted… Read More →

Eldorado on 1st breaks ground in Scottsdale

Eldorado

Toronto-based North American Development Group (NADG) and sales and marketing partners AZarchitecture/Jarson & Jarson Real Estate, together with City of Scottsdale officials, celebrated Wednesday the groundbreaking of Eldorado on 1st, a new mixed-use residential development concept designed by renowned Phoenix architect Will Bruder. Eldorado on 1st is a collection of seven refined city homes located… Read More →

Tempe’s Signature Place sells for $40M

Signature Place
by in AZRE Magazine | Multi-Family

ABI Multifamily, a multifamily brokerage and advisory services firm, announced the $40,000,000 sale of the 300-unit (of 440 total units), Signature Place Condominiums in Tempe. The Buyer in this transaction is Western Wealth Capital, an experienced Phoenix Metro multifamily investor based in Canada. The Seller in this transaction is Minnesota-based Mercury Investment. Mercury Investment is a… Read More →

Photos: Local art on display at en Hance development

Phoenix art

Lately, downtown Phoenix has been no stranger to construction. From ASU developments to luxury apartments that have been springing up around town, development has been everywhere.   Photos by Jesse A. Millard Although the end product can be a thing of beauty, construction can be an ugly sight. One developer, though, is doing something different… Read More →

IPA sells The Reserve at Arrowhead for $64.5M

Reserve at Arrowhead2

Institutional Property Advisors (IPA), a division of Marcus & Millichap specializing in serving institutional and major private real estate investors, announced the sale of The Reserve at Arrowhead, a premier 472-unit multifamily asset in Phoenix. The $64.5 million sales price equates to more than $136,000 per unit. “Developed in two phases between 1998 and 1999… Read More →

Optima Kierland opens to highly receptive market

Optima Kierland
by in AZRE Magazine | Multi-Family

The $500 million project, Optima Kierland, a high-rise luxury condominium community in the North Scottsdale Kierland neighborhood, has opened for sales to a highly receptive market. Optima Kierland, situated on 9.5 acres at Scottsdale Road and Kierland Boulevard, showcases signature Optima architecture design aesthetics with lush vertical gardens, floor-to-ceiling glass allowing unencumbered desert and mountain… Read More →

TruAmerica bolsters portfolio with Tempe buy

TruAmerica
by in AZRE Magazine | Multi-Family

In one of the largest apartment transactions this year in Phoenix, TruAmerica Multifamily and institutional capital partner Investcorp have acquired Little Cottonwoods, a 379-unit multifamily community in Tempe for $56.7 million.         This is the third and largest multifamily investment in the Phoenix area for TruAmerica and its fourth joint venture with Investcorp in… Read More →

How to boost curb appeal for a multifamily property

Condos

Consider these two scenarios: A: You are a tenant, and looking for a multifamily property. You visit a unit that has great interiors. However, outside, the walkway seems a bit shabby (uneven), the landscaping is not that green, the paint of the building has peeled off, masonry looks weathered and unclean, and the entrance door… Read More →

Bullhead City apartments sell for $8.95M

Bullhead City apartments
by in AZRE Magazine | Multi-Family

Colliers International in Greater Phoenix negotiated the sale of Silver Cliffs Apartment Homes at 1570 Paseo Grande in Bullhead City, Arizona, for $8.95 million or $55,590 per unit. Colliers International’s executive Vice Presidents Bill Hahn, Jeff Sherman and Trevor Koskovich represented both the seller and buyer. The seller was Thompson Corporation of Brookfield, Wisconsin. The… Read More →

Colliers negotiates $4.6M multifamily sale

Villas at Montebella in Peoria, Arizona (Photo provided by Colliers International)
by in AZRE Magazine | Multi-Family

Colliers International in greater Phoenix negotiated the sale of Villas at Montebella, a 100-unit apartment asset at 10860 N. 85th Ave. in Peoria, Arizona, for $4.6 million or $46,000 per unit. Executive Vice Presidents Bill Hahn, Jeff Sherman and Trevor Koskovich with Colliers represented both the seller and buyer. The seller was WE Villas at Montebella… Read More →