multifamily Archives

CBRE completes sale of Tamarron Apartments

Tamarron Apartments
by in AZRE Magazine | Brokerage | Multi-Family

CBRE completed the sale of the Tamarron apartments, a 328-unit multifamily community located at 4410 N. 99th Avenue in Phoenix, Arizona. Tyler Anderson, Sean Cunningham, Asher Gunter and Matt Pesch with CBRE’s Phoenix office negotiated the transaction on behalf of the seller. Joseph Dietz with Orion Investment Real Estate represented the buyer. “Tamarron is ideally… Read More →

ABI Multifamily hires VP to Phoenix HQ

ABI Multifamily

The expansion of the ABI Multifamily‘s Phoenix Headquarters continues with the welcoming of Royce Munroe as Vice President of the Mid/Small Apartment Group. “Royce provides an extremely unique and valuable perspective to our organization; specifically, he co-founded and led Southwest Realty and Property Management prior to its acquisition and was responsible for over 1,200-plus residential… Read More →

Glendale Manor Apartment Homes sold for $10M

Glendale Manor Apartment Homes (Photo courtesy of ABI Multifamily)

ABI Multifamily, a multifamily brokerage and advisory service firm, announced the sale of the Glendale Manor Apartment Homes for $10 million on Monday. The 328-unit complex sits on 11.71-acres of land less than one mile from Downtown Glendale and includes 39 total buildings plus the leasing center. The property, built in phases between 1963 and… Read More →

Cushman & Wakefield sell Chandler apartments for $21.65M

Chandler Apartments
by in AZRE Magazine | Brokerage | Multi-Family

Cushman & Wakefield negotiated the sale of Chandler apartments, which sold for $21.65 million. Park Tower Apartments, a 180-unit value-add multifamily investment at 1283 W. Parklane Blvd. in Chandler, was sold to Chicago-based 29th Street Capital. Cushman & Wakefield Executive Managing Directors Steven Nicoluzakis and David Fogler of the Phoenix office represented the seller, Scottsdale-based Clear Sky Park… Read More →

Marcus & Millichap sells Phoenix multifamily complex

multifamily
by in AZRE Magazine | Multi-Family

The Phoenix office of commercial real estate investment services firm, Marcus & Millichap (NYSE: MMI), completed the sale of The Shorewood, a recently renovated mid-century art deco style apartment building in the Midtown Phoenix corridor. The apartments sold for $2,650,000 or $126,190 a unit, and are located at 3601 N. 5th Ave. in Phoenix. Brian Tranetzki and Rich Butler, multifamily investment… Read More →

Scottsdale luxury apartments to offer hotel perks

Luxury apartments
by in AZRE Magazine | Multi-Family

A new luxury living apartment complex is opening up in Scottsdale in mid-June, a stone’s throw from local hangout spot Hotel Valley Ho. When The Standard opens, it will be the only luxury apartment community that is partnered with a hotel to offer resident perks such as access to the Valley Ho pool, spa and room… Read More →

Marcus & Millichap arrange $13.8M sale

Sale
by in AZRE Magazine | Brokerage | Multi-Family

The Phoenix offices of Marcus & Millichap (NYSE: MMI) arranged the sale of Redwood Place, an 186-unit multifamily community in Phoenix. The $13,805,000 sales price measures out to more than $74,000 per unit. “Built in 1984, Redwood Place has a collection of interior characteristics and contemporary amenities that are atypical of its era,” says Cliff David,… Read More →

New homes coming to Biltmore area

Biltmore
by in AZRE Magazine | Multi-Family

Presidio Residential Capital has partnered with Family Development to build a new community called Encue, offering 46 single-family attached homes at the southwest corner of Campbell and 25th Street near the Biltmore neighborhood in Phoenix. Vertical construction has already begun at the site. The retail value of this development will exceed $22 million. The two-acre property was the site of… Read More →

Berkadia completes midtown Phoenix multifamily sale

Berkadia
by in AZRE Magazine | Multi-Family

Berkadia completed, Wednesday, the sale of Barrington Regent, a Class B rental community in Phoenix. The $11 million sale was completed on May 18, and reflects a $88,709 per-unit price. Located at 825 W. Osborn Road, Barrington Regent is less than a mile from the Metro Light Rail and approximately one mile from the Downtown… 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 →

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 →

More than half of condos at En Hance Park sold

en Hance Park
by in AZRE Magazine | Multi-Family

One of the first condo projects slated to open in downtown Phoenix since the downturn is illustrative of a hot market on the horizon. en Hance Park Condominiums, near Portland and First Streets, is a 59,000-square-foot condominium project in downtown Phoenix, and has already sold 50 percent of its 49 units with four months left of… Read More →