multifamily Archives

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 →

Mesa apartments sell for $27.25M

Mesa apartments
by in AZRE Magazine | Multi-Family

Berkadia announced the recent sale of Valencia Crossing, a multifamily property located in Mesa. The $27.25 million sale – completed on April 8 – reflected a per-unit price of $68,640. Valencia Crossing is located at 111 N. Gilbert Rd., near U.S. Route 60 and Loop 202. It is less than five miles from Hohokam Stadium, spring… Read More →

JPI Companies acquires 10.79 acres for $11.28M

Rendering of the project on Chandler Blvd. & McClintock Rd.
by in AZRE Magazine | Multi-Family

Cushman & Wakefield announced Wednesday that JPI Companies acquired a ±10.79 acre permit-ready, 283-unit multifamily development site at the northeast corner of Chandler Boulevard and McClintock Road in Chandler for $11.28 million, $39,859 per unit. Cushman & Wakefield Executive Managing Directors Steven Nicoluzakis and David Fogler of the Phoenix office represented JPI Companies of Irving, Texas… Read More →

Sonoma Terrace apartments sell for $15M

Sonoma Terrace Apartments
by in AZRE Magazine | Multi-Family

Colliers International in Greater Phoenix completed the sale of the Sonoma Terrace apartments at 5220 W. Northern Ave., in Glendale, Arizona, for $15.35 million or approximately $59,038 per unit. Executive Vice Presidents Trevor Koskovich, Bill Hahn and Jeff Sherman, with Colliers’ Phoenix office, represented both the seller and buyer. The seller was Mentor Properties, Inc., of… Read More →

P.B. Bell opens new luxury apartments (Photos)

Escape
by in AZRE Magazine | Multi-Family

P.B. Bell opened its newest community, Escape, near Highland Avenue and 16th Street in Phoenix in late March. The community is located near the Biltmore and Esplanade shopping and nightlife areas, featuring 244 luxury apartment homes in a resort-style setting featuring an urban, contemporary aesthetic.   The four-story, interior corridor community wraps around an expansive, posh pool,… Read More →

Pathfinder Partners acquires 90 Phoenix condos

Pathfinder Partners
by in AZRE Magazine | Multi-Family

Expanding its Arizona multifamily portfolio, San Diego-based Pathfinder Partners LLC acquired 90 units in Aderra Condominiums – a 312-unit upscale community at 11640 N. Tatum Blvd. in the exclusive Paradise Valley neighborhood of Phoenix – for $15 million. According to Lorne Polger, senior managing director of Pathfinder Partners, his firm acquired the condos in a bulk transaction from Real Capital… Read More →

Chandler multifamily complex sells for $47M

Colliers International
by in AZRE Magazine | Multi-Family

Colliers International in Greater Phoenix completed the sale of The Fairways, a 352-unit, Class A apartment community at 777 W. Chandler Blvd., in Chandler, Arizona, for $47 million or $133,523 per unit. The seller was BAZV Fairways LLC, of Scottsdale, Arizona, a company formed by The Bascom Group of Irvine, California. Cindy Cooke, senior executive vice… Read More →

Dallas-based multifamily developer expands into Phoenix

Downtown Phoenix
by in AZRE Magazine | Mixed-Use | Multi-Family

StreetLights Residential, a design-driven developer of multifamily and mixed-use communities, announced its expansion to the Arizona market with the opening of a Phoenix office. Greg Nadeau, StreetLights’ director of development, who is responsible for multi-family developments and acquisition activity in Phoenix and the surrounding region, leads the office. StreetLights is based in Dallas with offices… Read More →

ORION completes off-market multifamily transaction

ORION
by in AZRE Magazine | Multi-Family

ORION Investment Real Estate facilitated the sale of The Hayward Apartments, a 16-unit apartment community located near the corner of 19th Avenue and Northern Avenue in Phoenix, for $1,150,000. The Hayward Apartments is just two blocks west of the new Metro Light Rail expansion line on 19th Avenue. Constructed in 1985 and renovated in 2014,… Read More →