Multi-Family Archives

CBRE closes more than $6.4M in transactions

The Brittany
January 8, 2015 by in AZRE Magazine | Multi-Family | Real Estate

CBRE has negotiated the following multi-family sales transaction(s): Asset Preservation, Inc. from Los Angeles, California has purchased Desert Green Apartments, a 16-unit multi-family property located at 16243-16401 North 31st Street in Phoenix, Ariz., from Dramms, LLC of Poway, California. Brian Smuckler and Jeff Seaman of CBRE’s Phoenix office represented both the buyer and the seller… Read More →

San Travesia apartments open near SkySong

Mark Boisclair Photography, Inc.

At the center of the McDowell corridor revitalization is the newest high-end rental community in south Scottsdale, San Travesia. San Travesia – adapted from the Spanish word “Travesia” meaning “crossroads” – offers all the advantages of Mark-Taylor’s “Next Generation” living in the largest low-density luxury apartment community in the area. “We’re so proud of this… Read More →

Wood Partners to develop 220-unit apartment complex downtown

345N7thAve_AerialView

A venture formed by Wood Partners in Marietta, Ga. (Ryan Dearborn, CEO) plans to develop 220 apartments at the southeast corner of N. 7th Avenue and W. Fillmore Street in downtown Phoenix. ALTA Fillmore LLC (Wood Partners entity) assembled the 4.09-acre site in two cash transactions totaling just under $4.8 million. Morgensen Inc. in Cody,… Read More →

HSL breaks ground on Tucson National luxury apartments

Encantada, HSL Properties, WEB

HSL Properties, Inc. announced the ground breaking of its new $46 million, 368-unit luxury apartment home community in the exclusive Tucson National area of the northwest Tucson metropolitan area. With the success of Encantada at Riverside Crossing, Dove Mountain, and Steam Pump, Encantada at Tucson National is the latest in its premiere Southern Arizona luxury… Read More →

$350M ‘green’ condominium project moves into Scottsdale

SC at Silverleaf 1

The Sterling Collection at Silverleaf, a “green” luxury condominium development, is set to launch sales in early November. The $350M development is one of the largest luxury residential projects in the Southwest.   Developed by Scottsdale-based Cypress Development Group, The Sterling Collection at Silverleaf will be the most luxurious condominium community to ever be developed… Read More →

Multifamily developers make name brand connection

Multifamily

Naming apartment communities has always been an art form. Some community names connect to romantic or exotic locales, others to the landscape and still more simply to location. “We believe that an apartment is more than just a place to have dinner and go to bed,” says Rob Lyles, partner in Deco Communities. “We see… Read More →

AFI-USA sells downtown Phoenix development site for $12.75M

Downtown_Phoenix_Aerial_Sketch-on

Real estate developer Africa-Israel USA (AFI-USA) announces the sale of a five-acre downtown Phoenix development site at the corner of Central Avenue and McDowell Road for $12.75 million. AFI-USA had owned the property since 2004. Lennar Multifamily Communities is the purchaser and plans to transform what is currently an empty lot into a 288,000-square-foot luxury residential… Read More →

Q & A with Tom Simplot, President and CEO of the Arizona Multihousing Association

Tom Simplot

Tom Simplot was named president and CEO of the Arizona Multihousing Association (AMA) in July 2008. The longtime Phoenix resident has served on the Phoenix City Council, president of the Maricopa County Board of Health, Maricopa County Industrial Development Authority, as chair of the Phoenix Historic Preservation Committee and was a member of the Phoenix… Read More →

Marbella Ranch Limited Partnership buys 350 acres

Marbella Ranch

Cassidy Turley announced the sale of ±352 acres on the southwest corner of El Mirage and Northern Avenue in Maricopa County to Marbella Ranch Limited Partnership. The Scottsdale-based homebuilder purchased the property for $11.7 million from El Paso Natural Gas Company, LLC, an affiliate of Kinder Morgan. Cassidy Turley Executive Managing Director Brent Moser, Senior… Read More →

OliverMcMillan breaks ground on SALT apartments

SALT

OliverMcMillan, a boutique real estate developer known for creating artistic, enduring destinations, has broken ground on SALT – a four-story, 265-unit, Class A apartment community in Tempe, Ariz. The development will feature studio, 1, 2, and 3 bedroom living spaces.  Residents will enjoy boutique resort style amenities with two pools, spa, yoga lawn, poolside cabanas,… Read More →

IPA, Retirement Community Specialists join forces

IPA Living, Mark Boisclair Photography

IPA, a leading operator of luxury multifamily communities in Arizona and Michigan, and Retirement Community Specialists, Inc. (RCS), a leading operator of luxury senior housing communities in Arizona, recently announced they have joined together under the same umbrella company, IPA, LLC. RCS and IPA now operate together under the direction of a combined executive team… Read More →

Future Coronado Commons sold to SRM Development

Coronado Commons, courtesy of Architectural Resource Team, Inc.

Cashen Realty Advisors announced the sale of a 1.37-acre residential parcel located at 329 E. Coronado Road in the Alvarado Historic District Area of Phoenix. The parcel is zoned R-4 and has approved plans for 20 three-story townhome units. The property, destined to be the Coronado Commons, sold for $1,323,000 and is one of the… Read More →

The Newport at Tempe to break ground later this month

The Newport, WEB

Change is on the horizon for downtown Tempe, and as the city preps to dive headfirst into an extensive rebranding and revitalization effort, one local developer is leading the charge on the residential side. Risi Development’s 38- single family homes called Newport at Tempe (1106 E Weber Drive) is set to break ground Monday, Sept.… Read More →

Wood Partners to break ground on Alta Steelyard Lofts

Wood Partners - Alta Steelyard Lofts, WEB

Wood Partners will break ground in October on Alta Steelyard Lofts, a 301-unit luxury apartment community in downtown Chandler that will add distinctive rental units to the employment-dense, rapidly developing “Silicon Desert” core.   With a particularly urban feel in both architecture and density combined with convenient access to employers and entertainment, Alta Steelyard will… Read More →