multifamily Archives

Passco Companies acquires Phoenix multifamily community

Passco Companies
by in AZRE Magazine | Multi-Family

Passco Companies, LLC has acquired Almeria at Ocotillo, a 389-unit, Class A luxury multifamily community located within the Ocotillo Master Planned Community, an upscale master-planned community in the dynamic Phoenix submarket of Chandler, Arizona, for approximately $80 million. The apartment community is located at 2470 and 2471 W. Edgewater in Chandler, Arizona. Sean Cunningham at CBRE represented… Read More →

Tucson mid-year reports show market health

Photo: neilld / 123RF Stock Photo
by in AZRE Magazine | Blogs | Brokerage

According to recently released reports from Cushman & Wakefield | PICOR, the Tucson commercial real estate market continues to see widespread activity across all markets at various levels. These quarter two reports analyze business in the multifamily, industrial, retail and office markets. The cliff notes version of the Q2 reports from Cushman & Wakefield |… Read More →

224-unit Mesa apartment complex sold for $25.6M

Mesa apartment
by in AZRE Magazine | Brokerage | Multi-Family

A 224-unit Mesa apartment complex, Windemere Apartments, sold for $25.6 million to San Diego-based Pathfinder Gilbert Holdings LLC., an entity of Pathfinder Partners, according to Cushman & Wakefield, who represented the seller. The apartment community, located at 2020 E. Inverness Ave. in Mesa, was sold by Phx E. Inverness 11-B LLC, an entity of California-based Acacia Property Corporation. Located… Read More →

Canadian investors buy 2 Valley apartments for $34.96M

Arbors on 5th , at 805 W. Brown St. in Tempe, is located near Arizona State University and the light rail. (Photo courtesy of Western Wealth Capital)
by in AZRE Magazine | Multi-Family

Western Wealth Capital, a Vancouver, Canada-based multi-unit rental property investment firm, recently purchased the 197-unit Arbors on 5th in Tempe for $21.3 million ($108,000 per unit) and the 148-unit Arcadia Walk in Phoenix for $13.66 million ($92,000 per unit). After closing on these back-to-back multifamily deals in two days, Western Wealth Capital now owns 23 properties and… Read More →

Colliers negotiates $6.2M Central Phoenix apartment sale

Colliers
by in AZRE Magazine | Brokerage | Multi-Family

Colliers International of Greater Phoenix  negotiated the $6,175,000 sale of Lincoln Village apartments at 2211 W. Campbell Ave. in Central Phoenix. “Lincoln Village is a perfect example of a property purchased to take advantage of rapid rising rents in the recovering west side of Phoenix,” says Trevor Koskovich, executive vice president of Colliers International. “The… Read More →

Goodyear apartments sell for $15.5M

Park Shadows has 237 units, and is situated along Litchfield Road. (Photo courtesy of Berkadia)
by in AZRE Magazine | Brokerage | Multi-Family

Berkadia announced the recent sale of Park Shadows, a multifamily property located in Goodyear, Ariz. Senior Managing Director Mark Forrester, Managing Director Ric Holway, Senior Director Dan Cheyne and Associate Tom Wolff of the Phoenix office organized the $15.5 million sale that closed on July 22. The buyer, JB Partners, LLC, a Nevada limited liability company based in… Read More →

6 Arizona cities named best places to rent in U.S.

Infill development
by in AZRE Magazine | Multi-Family

Arizona’s multifamily market has been enjoying a ten year high lately, so its no surprise six Arizona cities made WalletHub’s top ten best cities in the U.S. for renters. To help prospective renters get the most bang for their buck, WalletHub’s analysts compared the 150 largest cities based on their rental attractiveness and quality of… Read More →

Phoenix multifamily market hits strongest level in 10 years

Capital Place, Downtown Phoenix
by in AZRE Magazine | Multi-Family

Colliers International in Greater Phoenix released its mid-year 2016 Multifamily Statistics, which reports that the past three months were the strongest quarter in 10 years for property sales. The multifamily market is expected to continue its improvement during the second half of the year. Investment activity reached its highest point since 2007 this past quarter… Read More →

Colliers negotiates $5.45M west Phoenix apartment sale

Colliers
by in AZRE Magazine | Brokerage | Multi-Family

Colliers International of Greater Phoenix negotiated the $5.45 million sale of Bella Rio Apartments at 4903 W. Thomas Rd. in West Phoenix. The property was sold to a local investor who is adding the development to his existing portfolio of local apartment projects. “Bella Rio is a perfect example of a property purchased to take… Read More →

ABI Multifamily negotiates Biltmore Corridor sale

ABI Multifamily
by in AZRE Magazine | Brokerage | Multi-Family

Brokerage firm ABI Multifamily negotiated the $6,045,000 ($118,529/Unit) sale of the 18 at Biltmore Apartments, a 51-unit apartment community located in Phoenix, Arizona. 18 at Biltmore is a low density, one and two-story apartment community built from 1957 to 1962 of concrete construction and sits on approximately 3.5 acres of land. The property consists of… Read More →

Meridian arranges $14.5M in financing for Phoenix property

Meridian
by in AZRE Magazine | Multi-Family

New York-based Meridian Capital Group arranged $14.5 million in permanent financing for the refinance of a multifamily property located in Phoenix. The ten-year loan, provided by a national CMBS lender, features a fixed rate of 5.20 percent and two years of interest-only payments. This transaction was negotiated by Meridian Vice President Aaron Stempel, who is… Read More →

Berkadia sells Mesa apartments for $12.5M

Mesa apartments
by in AZRE Magazine | Multi-Family

Berkadia negotiated the $12.5 million sale of Superstition Villas, a multifamily property located in Mesa. Senior Managing Director Mark Forrester, Managing Director Ric Holway, Senior Director Dan Cheyne and Associate Tom Wolff of the Phoenix office negotiated the transaction, which closed on July 1. Arizona-based MRI Saddlehorn Superstition Investment Fund, LLC sold the property, and… Read More →

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 →