Multi-Family Archives

Deco Communities announces Edison Midtown in Phoenix’s Central Corridor

Courtesy of Deco Communities

Midtown Phoenix is getting a hip new neighbor. Scottsdale-based Deco Communities has closed on a key parcel of land that will be transformed into Edison Midtown, a new urban contemporary condominium in the heart of Phoenix’s urban core. Located at 2346 N. Central Ave. the address says it all, Edison is central to Midtown’s buzzing… Read More →

CityScape welcomes first residents

CityScape Residences model penthouse
April 14, 2014 by in AZRE Magazine | Featured | Multi-Family

In February, the first residents moved into the CityScape Residences, a collection of 224 luxury apartments that sit atop Kimpton’s Hotel Palomar Phoenix.

Deco Communities plans $37M joint venture on Envy Condos

Envy Condominiums rendering, WEB

Scottsdale-based Deco Communities has closed on a key parcel of land that will change the skyline of Old Town Scottsdale with the addition of a new luxury condominium tower. Slated for completion in 2016, the property is located at 4244 N. 75th St. Envy will include 90 elegantly appointed residential units and rise eight stories… Read More →

HFF arranges $14M in joint venture equity for Scottsdale condo project

Envy Condominiums rendering, WEB

HFF announced today that it has arranged $14M in joint venture equity for the development of Envy, a 90-home, mid-rise condominium project in downtown Scottsdale’s Entertainment District. HFF worked on behalf of the borrower, Deco Communities, to secure joint venture equity from an alternative investment manager. Envy will be situated on a one-acre site at… Read More →

Jefferson on Legacy

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This project phase will bring a 322-unit luxury apartment community within the One Scottsdale master-planned development located at the NEC of the 101 Freeway and Scottsdale Road. One Scottsdale is an 80-acre mixed-use property planned for specialty retail, dining, Class-A office and hotel uses. Developer: TDI Real Estate Holdings General Contractor: TDI Construction Services LLC… Read More →

TDI Begins Construction of Jefferson on Legacy

Jefferson on Legacy, WEB

TDI Real Estate Holdings LLC, a developer of Class-A multi-family housing, has begun construction on the second  phase of a project that will bring up to 750 units of luxury housing to Scottsdale.  Construction of Jefferson on Legacy is presently underway on 322 units scheduled for completion in 2015. The site is located within the… Read More →

New to Market: The Residences at Fountainhead Corporate Park

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Project Name: The Residences at Fountainhead Corporate Park Developer: Tilton Development & Goodman Real Estate General Contractor: Adolfson & Peterson Construction Architect: Todd & Associates Location & City: 55th Street & South Plaza Drive, Tempe, Arizona Size: 389,314 SF Value: $35M Estimated start and completion dates (by month or quarter): January 2014 / July 2015… Read More →

Wood Partners to Break Ground on Alta Tempe, 296-Unit Luxury Apartment Building in Tempe

Loop 202 - AZ Business Magazine Oct/Nov 2006
January 14, 2014 by in Multi-Family | New to Market

Wood Partners will break ground in early 2014 on Alta Tempe, a 296-unit luxury apartment complex at University Drive and Dorsey Lane near the new Marina Heights, which will be the state’s largest office park when it is completed. Construction of the 270,000-square-foot apartment building, situated on 7.1 acres, should be complete by June 2015.… Read More →

First Mark-Taylor-Designed Rental Community Opening In Gilbert

MarkTaylor Courtyard, WEB

Mark-Taylor, Inc. recently began construction on a 296-unit luxury rental community at Val Vista Drive and Pecos Road in the Spectrum neighborhood of Gilbert. The new San Privada, located at 1480 E. Pecos, will offer an unparalleled living option for residents looking to live in an urban, mixed-use area of the town. “The commercial /… Read More →

New to Market: November, December 2013

Sierra Vista Hospital

1  |  Sierra Vista Regional Health Center Replacement Hospital Developer: Regional Care Hospital Partners General Contractor: JE Dunn Construction Architect: Gould Turner Group Architects Location: State Route 90 and Colonia De Salud, Sierra Vista Size: 175,000 SF JE Dunn was recently awarded the $55M Sierra Vista Regional Health Center Replacement Hospital project. The 175,000 SF,… Read More →

Deco Communities Opens Two More Cabana Properties

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October 31, 2013 by in Business News | In The Spotlight | Multi-Family

With the Valley rental market hotter than ever, Gen Y renters now have an array of fresh options catering to them within the rapidly expanding Cabana Modern Apartment Homes brand. Two new properties have been completed in Tempe and Phoenix, offering stylish and affordable living spaces along the major job corridors of metro-Phoenix. Now open,… Read More →

Alliance Residential Buys Downtown Scottsdale Development Site for $18.5M

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Cassidy Turley sold a 5.4 acre multi-family development site approved for 316 units at 75th Street and Stetson Drive in downtown Scottsdale. A partnership formed by Alliance Residential (Bruce Ward, Bob Hutt, Jay Jimenez, Ian Swiergol) purchased the property for $18.5M, $78.50 PSF, and $58,544 per unit.  Executive Vice Presidents David Fogler and Steven Nicoluzakis with… Read More →

Wood Partners Break Ground on $38M Alta Scottsdale

Wood Partners - Alta Scottsdale Rendering

Wood Partners will break ground in December on Alta Scottsdale, a $38 million luxury apartment complex with 218 units located one mile from downtown Scottsdale. Construction of the 190,000-square-foot apartment building, situated on 6.5 acres, should be complete by summer 2015. It will open for pre-leasing in November 2014, with rents about 30 percent lower… Read More →

The Paragon at Kierland Sells for $57.75M

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The Colliers International in Greater Phoenix Southwest Multifamily Advisors’ team recently completed the sale of The Paragon at Kierland, a 276-unit, Class A luxury apartment complex located on the Westin Kierland Golf Course, for $57.75 million or $209,239 a unit/$200 a square foot. The transaction is the highest per unit sale to date in 2013… Read More →

Northern Terrace Apartments Sell for $9.1M

Northern Terrace
September 30, 2013 by in Brokerage | Multi-Family

Colliers International in Greater Phoenix negotiated the sale of the 260-unit Northern Terrace Apartments, located at 5220 W. Northern Ave. in Glendale, Ariz., for $9.1 million, or $35,000 per unit. Scottsdale-based Sonoma Terrace Properties LLC, a partnership between Jay Chernikoff and Cal DeSouza, acquired Northern Terrace Apartments with a loan from Mutual of Omaha Bank.… Read More →

Sperry Van Ness Negotiates $4.4M Sale of Bella Verde Apartments

SVN-Bella Verde Image
September 17, 2013 by in In The Spotlight | Multi-Family

Neil Sherman and Danny Lee, Principals in the Phoenix office of Sperry Van Ness, negotiated the sale of Belle Verde Apartments at 3030 N. 35th Avenue in Phoenix. Bella Verde closed at a sales price of $4,400,000, or $24,309 per unit, on August 30. The 181-unit apartment complex is approximately 71,760 square feet and was… Read More →

Colliers Sells Two Phoenix Apartment Complexes

Paradise Falls

  Colliers International in Greater Phoenix recently completed the sales of the 220-unit Paradise Falls and 288-unit Canyon Place apartment complexes for a combined total of $18 million to different buyers. Weidner Investment Group of Kirkland, Wash., acquired Paradise Falls, located at 15434 N. 32nd St. in Phoenix, for $10.4 million, or $47,272 per unit. The… Read More →

CBRE Negotiates Sale of Arimont Apartments in Phoenix

Arimont

Clear Sky Capital Arimont LLC of Phoenix has purchased Arimont Apartments, a 21-unit multifamily property located at 1102 E. Maryland Ave. in Phoenix. Brian Smuckler and Jeff Seaman of CBRE’s Multi-Housing Private Capital Group in Phoenix represented the buyer and the seller, The Eugenijus Valiulis Revocable Trust of Ojai, Calif., and negotiated the $940,000 sale.

Marcus & Millichap Sells 24-Unit Campbell Apartments in Camelback Corridor

Campbell Apartments
September 10, 2013 by in Business News | Multi-Family

Marcus & Millichap Real Estate Investment Services has announced the sale of Campbell Apartments, a 24-unit apartment community located in the prestigious Biltmore area in Phoenix, Arizona. The asset commanded a sales price of $1,200,000 or $50,000 a unit. Brian Tranetzki and Rich Butler, multifamily investment specialists in Marcus & Millichap’s Phoenix office, had the… Read More →

Mark-Taylor, Kitchell Break Ground On Southern Arizona Development

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  A year after opening two successful multi-family developments in Maricopa County, the joint venture of Mark-Taylor and Kitchell has embarked on a unique mixed-use development that brings out the best of their combined experience and utilizes the gorgeous backdrop of the Santa Catalina Mountains. The 24-acre development in Oro Valley, being called “San Dorado,”… Read More →

More Than $1B In Valley Economic Development Projects Announced In Banner 48-Hour Period

Marina Heights rendering courtesy of DAVIS.

  It could be the best 48 hours ever for Valley development and commercial real estate: three projects and more than $1B in economic impact. In the past 48 hours plans were revealed for three major investment and construction projects in Metro Phoenix, including today’s announcement of the $600M Marina Heights mixed-used development on Tempe… Read More →

Hanover To Develop Luxury Residential On Mill Avenue In Tempe

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  Cassidy Turley announced today that Houston-based The Hanover Company purchased ±2.76 acres in the Centerpoint on Mill complex in Tempe, west of the SWC of 5th St. and Mill Ave. The purchase deal includes $7M for the land, and in excess of $4.47M they will use to build a parking structure to replace the… Read More →

Million Dollar Casitas Coming To Sagewood Due To Record Sales, Market Demand

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  Record community sales and a strong recovering housing market have prompted Sagewood, a 278-residence Phoenix luxury retirement community featuring resort-like amenities and the Acacia Health Center, to build an additional 14 casitas soon to be under construction. Sales are now underway for the detached casitas ranging from 2,173 SF to 2,326 SF for a… Read More →

Summit dck Begins Construction Of The Argo At Town Lake In Tempe

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  Summit dck has begun construction of The Argo at Town Lake apartment community on Rio Salado Parkway in Tempe. Located across from The Tempe Center for The Arts and Tempe Town Lake, the 605,000 GSF mixed-use development is a 328-unit apartment community atop a ground level parking garage and includes retail space, bike shop,… Read More →