ABI Multifamily, the leading multifamily brokerage and advisory services firm in the Western US, announced the sale of the following properties this week:
• $47,750,000 / $170,536 Per Unit / $264.42 Per SF sale of Desert Point Apartments, a 280-unit multifamily apartment property located in Phoenix, Arizona.
• $41,000,000 / $205,000 Per Unit / $205.65 Per SF sale of Cameron Apartments, a 200-unit multifamily apartment property located in Phoenix, Arizona.
• $69,250,000 / $201,308 Per Unit / $213.40 Per SF sale of Parkwood Apartments, a 344-unit multifamily apartment property located in Phoenix, Arizona.
• $18,400,000 / $191,667 Per Unit / $184.74 Per SF sale of Revival on Indian School, a 96-unit multifamily apartment property located in Phoenix, Arizona.
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Desert Point is a 280-unit, fully gated garden-style apartment community in the west submarket of Phoenix, Arizona. Built in 2006, the property consists of 18 rental buildings constructed of wood frame, stucco, and pitched composition shingle roofs resting on approximately 7.77-acres. The unit mix consists of 72 one-bed / one-bath units and 208 two-bed / two-bath units with a weighted average of 645 square feet. The property is individually metered for electricity. All units include washer/dryer appliances, air conditioning/heating, vaulted ceilings, additional storage, and kitchens equipped with refrigerator, microwave, dishwasher, and garbage disposal. Common area amenities include: Dedicated rental office, fitness center, pool / spa, playground, barbecue grills / picnic area, lush landscaping, gated-entry, and covered / open parking. The property is situated just miles from the Westgate Sports and Entertainment District and is in close proximity to a multitude of major transportation corridors such as: The Papago Freeway (Interstate-10), Agua Fria Freeway (Loop 101), Grand Avenue (Highway 60), and the recently constructed extension of the South Mountain Freeway (Loop 202). ABI Multifamily’s Phoenix-based Institutional Apartment Group – Alon Shnitzer, Rue Bax, Eddie Chang, and Doug Lazovick represented the buyer and seller in this transaction.
Cameron is a 200-unit, fully gated garden-style apartment community in the west submarket of Phoenix, Arizona. Built in 2001, the property consists of 24 rental buildings constructed of wood frame, stucco, and pitched tile roofs resting on approximately 9.96-acres. The unit mix consists of 144 two-bed / two-bath units and 56 three-bed / two-bath units with a weighted average of 997 square feet. The property is individually metered for electricity and water. All units include washer/dryer appliances, air conditioning/heating, vaulted ceilings, private patio, additional storage, and kitchens equipped with refrigerator, microwave, dishwasher, garbage disposal, and icemaker. Community amenities include: Dedicated rental office, fitness center, pool / spa, playground, garden, covered / open parking, gated-entry, barbecue grills / picnic area and lush landscaping. The property is situated just miles from the Westgate Sports and Entertainment District and is in close proximity to a multitude of major transportation corridors such as: The Papago Freeway (Interstate-10), Agua Fria Freeway (Loop 101), Grand Avenue (Highway 60), and the recently constructed extension of the South Mountain Freeway (Loop 202). ABI Multifamily’s Phoenix-based Institutional Apartment Group – Alon Shnitzer, Rue Bax, Eddie Chang, and Doug Lazovick represented the buyer and seller in this transaction.
Parkwood is a 344-unit, fully gated garden-style apartment community in the west submarket of Phoenix, Arizona. Built in 2001, the property consists of 23 rental buildings constructed of wood frame, stucco, and pitched composition shingle roofs resting on approximately 16.63-acres. The unit mix consists of 48 one-bed / one-bath units, 48 two-bed / one-bath units, 144 2-bed / 2-bath units, and 104 three-bed / two-bath units with a weighted average of 943 square feet. The property is individually metered for electricity and water. All units include washer/dryer appliances, air conditioning/heating, vaulted ceilings, private patio, additional storage, and kitchens equipped with refrigerator, microwave, dishwasher, garbage disposal, and icemaker. Common area amenities include: Dedicated rental office, fitness center, pool / spa, playground, barbecue grills / picnic area, lush landscaping, gated entry, and covered / open parking. The property is situated just miles from the Westgate Sports and Entertainment District and is in close proximity to a multitude of major transportation corridors such as: The Papago Freeway (Interstate-10), Agua Fria Freeway (Loop 101), Grand Avenue (Highway 60), and the recently constructed extension of the South Mountain Freeway (Loop 202). ABI Multifamily’s Phoenix-based Institutional Apartment Group – Alon Shnitzer, Rue Bax, Eddie Chang, and Doug Lazovick represented the buyer and seller in this transaction.
Built in 1957 with select renovations in 2015+, Revival on Indian School consists of 96 garden-style units. The property features all large two-bedroom units with an average size of 1,038 square feet. Revival on Indian School is a pet-friendly community with two swimming pools, covered parking, outdoor dining areas and barbecue grills. Unit amenities include in-unit washers and dryers, walk-in closets, hardwood floors and upgraded lighting fixtures. Many of the units feature concrete flooring, stainless steel appliances and personal patios as well. Revival on Indian School is located in North Central Phoenix that is in the midst of strong revitalization. The apartment community is situated in a prime location less than five minutes from the popular Uptown Plaza, Melrose District and Christown Spectrum Mall, all of which host numerous shopping, dining, and entertainment options. In addition, the location is positioned less than a mile from three different light rail stations including the Park-and-Ride. ABI Multifamily’s Phoenix-based Institutional Apartment Group – Alon Shnitzer, Rue Bax, Eddie Chang and Doug Lazovick represented the buyer in this transaction. The Buyer is Rise48 Equity, a Phoenix-Based Real Estate Firm. The seller is based in Arizona.
