Multi-Family Archives

The Boulders announces new ownership at el Pedregal

el Pedregal shopping
by in AZRE Magazine | Multi-Family | New to Market | Retail

New ownership at el Pedregal brings new opportunities for tenants to join the one-of-a-kind outdoor shopping center anchored by the legendary Boulders Resort. Considered to be a niche shopping destination, the iconic el Pedregal is distinguished by its architecture, variety of shops, dining and an outdoor entertainment area that draws winter visitors, snowbirds, local residents… Read More →

Capital One issues $2.6M Freddie Mac loan to refinance RV Park


Capital One has provided a $2.625 million Freddie Mac fixed-rate loan to refinance Palm Drive Mobile Home and RV Park, a manufactured housing community (MHC) in Wickenburg, Arizona, part of the Phoenix MSA. Senior Vice President Chad Thomas Hagwood, head of Capital One Multifamily’s Birmingham, Alabama office, originated the transaction.  The borrowers have over 32… Read More →

BI closes redevelopment play in Phoenix’s Uptown District

Idle-Hours Press Release Pic

ABI Multifamily announced the $2,825,000 sale of the Idle Hours Apartments, a 28-unit apartment community located in Phoenix, Arizona. Idle Hours Apartments is a low density one-story apartment community, originally built in 1956 and comprised of all two bedroom/one bath apartments with an overall average size of approximately 864SF. The property features all brick construction,… Read More →

Shea Homes starts construction on Ahwatukee condos


Shea Homes Arizona recently broke ground on model homes at its Vantage condominium community. Six model homes will be built featuring updated and re-engineered home designs for those looking for a lower maintenance home. Located on the northwest corner of 5th Ave. and Chandler Blvd. in Ahwatukee, the 69 condos at Vantage will range from 1,432… Read More →

Historic El Cortez to be redeveloped into microapartments

El Cortez

CBRE has completed the sale of most of the units in the historic El Cortez condominium complex in midtown Phoenix. The sale included 146 of the 165 units in the complex for a sale price of $6.4 million. Brian Smuckler and Jeff Seaman with CBRE’s Phoenix office represented the seller, El Cortez Condominiums, LLC of… Read More →

$350M luxury condos break ground at Silverleaf

The Sterling Collection

The Sterling Collection at Silverleaf, one of the largest residential projects in the Southwest, broke ground last week during a ceremony to celebrate the start of construction at the $350 million development by Cypress Development Group. Situated within the 2,000-acre Silverleaf neighborhood, The Sterling Collection is an intimate enclave with five, four-story buildings. Priced from… Read More →

Avenue5 leases entire floor at Anchor Centre West


Avenue5 Residential recently signed a long-term office lease for the entire 2nd floor at Anchor Centre West, 2201 E. Camelback Rd., Phoenix. Adam Tolson, Principal with Lee & Associates secured the tenant, Avenue5, who will take possession of the 17,974 SF, turn-key space early in 2016. Chris Walker, Michael Beall and Sean Spellman with Cushman & Wakefield… Read More →

WP West acquires 4 acres of downtown Phoenix land Jakub Jirsak

Wood Partners’ entity WP West Acquisitions, LLC, one of the nation’s leading real estate developers, purchased 4.18 acres on Third Street and Thomas Road in the heart of downtown Phoenix. The sale was brokered through Michael A. Lieb, Ltd representing the buyer, while Stuart Milne and Rich Andrus with Menlo Group Commercial Real Estate represented… Read More →

Fort Valley Apartments sell for $3.65M feverpitched

Bruce Hanley represented Clear Sky Capital Partners in the acquisition of the 44-unit Fort Valley Apartments in Flagstaff, AZ for $3,650,000. The seller was Fort Valley Apartments LLC. Fort Valley Apartments is a class “B” property built in 1966 with units averaging 1,002 SF/each. Located in close proximity to Northern Arizona University and Arizona Snowbowl… Read More →

Yuma’s River Park Apartments command $13.2M feverpitched

Marcus & Millichap announced the sale of River Park Apartments, a 176-unit apartment property in Yuma, Ariz. The asset sold for $13.2 million, which equates to $75,000 per unit. Michael Hubl, vice president investments and director of Marcus & Millichap’s National Multi Housing Group in Phoenix, had the exclusive listing to market the property on… Read More →

Wood Partners announces new Phoenix development; everythingpossible

Wood Partners, a national leader in real estate development and acquisition, announced plans today for a new, unique 225-unit community, 3rd and Thomas. Located in Midtown Phoenix, the property will offer convenient access to bustling retail, dining, entertainment and recreation options, as well as to the neighboring Museum District, North Central and Downtown Phoenix areas. “Strategically… Read More →

ABI Multifamily sells Cabrillo Pointe in Mesa for $3.3M

Cabrillo Pointe

ABI Multifamily has sold Cabrillo Pointe, a 65 unit apartment that is located in Mesa, Arizona for $3,300,000. Cabrillo Pointe is a single-story community, built in 1960 and comprised of one and two bedroom apartment homes with an average size of approximately 836SF. The property features stone accents, built-up roofs and a well maintained interior courtyard area.… Read More →

4-acre deal closes on 3rd Street and Thomas


Wood Partners’ entity WP West Acquisitions, LLC purchased 4.18 acres on Third Street and Thomas Road in the heart of downtown Phoenix. The sale was brokered through Michael A. Lieb, Ltd representing the buyer, while Stuart Milne and Rich Andrus with Menlo Group Commercial Real Estate represented the multiple sellers in this 17-parcel assemblage. The… Read More →

Sierra West Apartments near GCU sell for $1.17M feverpitched

Multifamily advisor and Vice President, Danny Lee never gave up on the possible sale of the 20 unit complex in Phoenix, AZ. Lee worked with the seller for over 18 months empowering his client with the knowledge of market and the seller decided to sell at the right time. Sierra West Apartments is located at… Read More →