CBRE negotiated the sale of Marquis at Desert Ridge, a 370-unit Class A multifamily community located in the Desert Ridge neighborhood in north Phoenix. CBRE’s Asher Gunter, Matt Pesch, Sean Cunningham and Austin Groen represented the seller, a national multifamily investor and operator. IMT Capital, a Los Angeles-based privately held real estate investment firm, together with IMT Residential, its affiliated property management company, acquired the community, which will be rebranded as IMT Desert Ridge.
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“Marquis at Desert Ridge is a beautiful community in the center of Desert Ridge, one of Phoenix’s top master-planned communities,” said Gunter, vice chairman and managing director of the Southwest multifamily region at CBRE. “Investors are drawn to the submarket’s established high-wage employment, retail and recreation. The area is growing rapidly, with major employers expanding and new homes being built around the community. The outlook is excellent moving forward.”
Built in 2014, the Marquis at Desert Ridge features one- and two-bedroom units with select upgrades, including wood-style plank flooring, quartz countertops in the kitchen and baths, stainless steel appliances, custom cabinetry with brushed nickel hardware, full-size washer, and dryer, 9-to 14-foot ceilings, open-concept floor plans and private balcony or patio.
The community’s luxury amenities include a resort-style swimming pool and spa area with an expansive sundeck lounge and cabanas, outdoor kitchen and grill stations, a 24-hour fitness center, a resident clubhouse with an entertaining kitchen, a billiard room and a business center.
“We are excited to start off 2025 with excellent momentum and add IMT Desert Ridge to our expanding portfolio,” said Andrew Wizenberg, Managing Director of IMT Capital. “Metro Phoenix remains one of the most robust multifamily markets on our target list, and we are extremely bullish on the region’s continued economic growth.”
Metro Phoenix is one of the top-performing multifamily demand markets in the country, with more than 26,000 units of absorption in 2024, according to data analyzed by CBRE.
IMT Capital and IMT Residential (together, “IMT”) is a privately held full-service owner and operator of multifamily residential communities. The company currently manages over 19,000 residential units and 50-plus communities in major metros across nine U.S. states. Founded in 1992, IMT Residential has been recognized on the lists of Top 50 multifamily firms nationally by the National Multi-Housing Council and Multifamily Executive Magazine. The United States Green Building Council also recognizes it for its LEED for home construction projects.
