Phoenix Multifamily Archives

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 →

CBRE sells Courtney Village Apartments for $45.5M

Courtney Village
by in AZRE Magazine | Multi-Family

CBRE completed the sale of Courtney Village, a 368-unit multifamily community located at 4848 E. Roosevelt St. in Phoenix, Arizona. The property sold for $45.5 million. Tyler Anderson, Sean Cunningham, Asher Gunter and Matt Pesch with CBRE’s Phoenix office negotiated the transaction on behalf of the seller, California-based PASSCO. The buyer was Denver-based Continental Realty Advisors. Developed in 2002,… Read More →

Arizona’s Valley of the Scholars

Grand Canyon University; Photo by Shavon Rose for AZ Big Media

Phoenix may be built on a grid system, but it’s not too hyperbolic to say all roads (and, one day, light rail routes) lead to Arizona State University. It’s the theory of diffusion of innovations, says Sundt Construction’s Business Development Manager Ryan Abbott. The theory, which has been around since Everett Rogers published a book… Read More →

Marcus & Millichap Sells 32-Unit Multifamily Asset in Phoenix

Lexington Court Apartments, WEB

Marcus & Millichap Real Estate Investment Services has announced the sale of Lexington Court Apartments, a 32-unit apartment community located in downtown Phoenix. The asset commanded a sales price of $1.7M or $53,125 a unit. Brian Tranetzki and Rich Butler, multifamily investment specialists in Marcus & Millichap’s Phoenix office, had the exclusive listing assignment to… Read More →