CBRE

Alta Tempe, a 296-unit core Class A multifamily community located at 1260 E. University Dr. in Tempe was sold to DiNapoli Capital Partners by Wood Partners. (Photo courtesy of CBRE)

November 22, 2016

AZRE

CBRE completes 3 multifamily sales totaling $199.4M

CBRE completed three multifamily property deals across the metro Phoenix area in the past five days, totaling in $199.4 million worth of transactions.

Tyler Anderson, Sean Cunningham, Asher Gunter and Matt Pesch of CBRE worked on all three of the multifamily property sales. The three deals were completed in the last five business days, according to CBRE.

Alta Tempe, a 296-unit core Class A multifamily community located at 1260 E. University Dr. in Tempe was sold to DiNapoli Capital Partners by Wood Partners.

Alta Tempe was built in 2005, and is a Class A luxurious multifamily property featuring many amenities such as a designer clubhouse, resort-style swimming pool and spa, bike maintenance room and more.

CBRE represented the sellers, Wood Partners in the transaction.

elevationcentral
Elevation on Central, a 266-unit urban, Class A multifamily community located at 4650 North Central Avenue in Phoenix. (Photo courtesy of CBRE)

An entity of PrivatePortfolio Group purchased the 266-unit Class A community Elevation on Central for $60 million. The seller, Vedura Residential, was represented by CBRE.

Completed in 2016, Elevation on Central is a distinguishable Class A community with a tremendous location along Central Avenue, within walking distance of two Metro Light Rail stations.

The community is surrounded by metro Phoenix’s preeminent high-wage employment corridors and a vibrant culinary district within walking distance of Elevation on Central continues to emerge along Central Avenue in the North Central neighborhood.

(Photo courtesy of CBRE)
Built in 2000, Biscayne Bay is a garden-style community featuring all two-story buildings and a desirable low-density site plan. (Photo courtesy of CBRE)

The 512-uni multifamily community, Biscayne Bay at 300 E. Warner Road in Chandler was sold to Scottsdale-based Everest Holdings. Washington-based PrivatePortfolio Group sold the property, and was represented by CBRE.

Built in 2000, Biscayne Bay is a garden-style community featuring all two-story buildings and a desirable low-density site plan. Community amenities include multiple swimming pools with spas, resident clubhouse, and a fully-equipped fitness center.

Spacious one, two, and three-bedroom residences feature nine-foot ceilings, well-appointed kitchens with breakfast bars, walk-in closets, and full-size washer/ dryers.