multifamily Archives

Western Wealth Capital’s Janet LePage earns honor  Elnur Amikishiyev
by in AZRE Magazine | Multi-Family

Esteemed Champagne House, Veuve Clicquot, has awarded Janet LePage, CEO and co-founder of Western Wealth Capital, with its 2016 New Generation Award. LePage was selected from a shortlist of young entrepreneurs from across Canada. LePage, 35 years old, has grown Western Wealth Capital, a Vancouver, Canada-based multi-unit rental property investment firm, to the 3rd largest… Read More →

Q3 multifamily report features analysis, outlook

by in AZRE Magazine | Multi-Family

 Job Growth Intensifies Apartment Demand and Construction in Tempe Hiring by large companies will generate further demand in local apartments, creating density in urban corridors, according to a report compiled by Marcus & Millichap. Continued optimism by Phoenix employers boosted job growth during the past four quarters, with increases expected throughout the year. White-collar jobs… Read More →

CBRE completes $46M sale of Cantera Apartment Homes

Cantera Apartment Homes
by in AZRE Magazine | Multi-Family

CBRE completed the sale of Cantera, a 288-unit multifamily community located at 2475 W. Pecos Rd. in Chandler, Arizona. Tyler Anderson, Sean Cunningham, Asher Gunter and Matt Pesch with CBRE’s Phoenix office handled the transaction. The seller was Rockwood Capital and the buyer was Aukum Management. “Strong demand for multifamily housing in Chandler is reflective… Read More →

$47 million ENVY Residences open in Downtown Scottsdale

Evny Residences
by in AZRE Magazine | Multi-Family

Deco Communities‘ $47M luxury condominium tower, ENVY Residences opened in Downtown Scottsdale in late September. At 8 stories tall, ENVY Residences is the tallest residential building in Scottsdale to be built in the last decade and offers some of the city’s most resplendent views. “Our vision for bringing a cosmopolitan luxury lifestyle experience has come… Read More →

JLL sells first Downtown Phoenix apartments of new cycle

Proxy 333 totals 69,335 square feet and 118 units at 333 E. McKinley St., between Third and Fourth Streets in Downtown Phoenix.
by in AZRE Magazine | Brokerage | Multi-Family | Newsmakers

The first urban apartment project to be constructed and traded in Downtown Phoenix’s post-recession real estate upswing has sold this week in a $21.8 million deal brokered by the Phoenix office of JLL. Named Proxy 333, the project totals 118 highly amenitized urban multifamily units located in the heart of downtown’s Evans-Churchill neighborhood. The Proxy 333… Read More →

Trends to watch in 5 commercial real estate markets


It’s that time of year again when commercial real estate firms analyze market activity based on numbers and reports from the first two quarters of the year, and predict how that will impact the rest of 2016 through next year. Experts in their respective markets weighed in on the findings from quarter two reports in… Read More →

Caliber acquires The Palms multifamily portfolio in Phoenix

by in AZRE Magazine

Caliber – The Wealth Development Company acquired a $14.05 million, 374-unit portfolio consisting of three multifamily properties, in Phoenix, Arizona. The Palms Weekly Portfolio, including the Siesta Palms, Palm Shadows and Twin Palms communities, have been successfully operated for 20 years as long- and short-term furnished rental units. According to Chris Loeffler, CEO and co-founder of Caliber, “It’s not often… Read More →

CBRE sells Arches at Hidden Creek Apartments for $55 million

by in AZRE Magazine | Brokerage

CBRE‘s Phoenix offices completed the $55 million sale of Arches at Hidden Creek, a 432-unit multifamily community located at 1586 W. Maggio Way in Chandler, Ariz. Tyler Anderson, Sean Cunningham, Asher Gunter and Matt Pesch with CBRE’s Phoenix office negotiated the transaction. The seller was a venture between Hamilton Zanze of San Francisco, CA and New… Read More →

5 property Tucson portfolio sold to Colorado firm

by in AZRE Magazine | Multi-Family

Colliers International in Greater Phoenix has negotiated the sale of a portfolio containing five apartment communities in Tucson. The properties were the first Arizona acquisition for a Colorado-based investment group. California-based Hamilton Zanze sold the portfolio to Colorado-based Monarch Investment & Management Group, LLC. Cindy Cooke and Brad Cooke of Colliers International in Greater Phoenix… Read More →

New listing aims to bring new life to Grand Avenue Arts District

Aerial shot of the McKinley and Pierce assemblage of property along the Grand Avenue Arts District in Downtown Phoenix. (Photo courtesy of Real Living Success Reality)
by in AZRE Magazine | Brokerage | New to Market

The former La Patisserie Bakery, located at 1317 W. McKinley Street in the middle of the blossoming Grand Avenue Arts District in Downtown Phoenix, is available for sale along with several other adjacent parcels. The property is a mixture of multifamily and commercial zoning properties totaling 1.19 acres for $2,125,000, which is the largest assemblage of available property along… Read More →

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 →