Cushman & Wakefield announced today that the real estate services firm advised on the sale and arranged the acquisition and construction completion financing for One Camelback, a 163-unit luxury residential project at the prominent intersection of Central Avenue and Camelback Road in Phoenix’s Uptown district.
Upon completion, the property will feature 163 luxury residences averaging 980 square feet, along with 10,725 square feet of ground-floor retail and a five-level subterranean parking garage. Residences will offer floor-to-ceiling windows with panoramic city and mountain views, 10.5- to 11-foot ceilings, exposed concrete finishes, quartz waterfall-edge kitchen surfaces, stainless steel appliances, spa-quality bathrooms, walk-in closets with custom built-ins, smart-home technology and in-unit washers and dryers.
Long regarded as one of Phoenix’s most closely watched redevelopment efforts, One Camelback reached substantial completion before construction paused. With the sale and capitalization, new ownership is advancing the project through the final stage of development and reclaiming its position as Uptown’s only luxury residential high-rise.
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A Cushman & Wakefield Equity, Debt & Structured Finance team of David Karson, Megan Schmitt and Mitch Rothstein arranged the financing on behalf of Kinella Capital. Steven Nicoluzakis and David Fogler of Cushman & Wakefield’s Multifamily Investment Sales group represented Kinella in the acquisition.
Post Road Group, a Stamford, CT–based real estate investment firm, provided the capital solution supporting the project.
“This transaction is a milestone for Phoenix’s multifamily market and a testament to our client’s discipline and vision,” said Schmitt. “Advancing a project of this scale required close coordination across multiple counterparties and structuring a tailored capital solution calibrated for completion. With its architectural pedigree, elevated amenities and walkable location, One Camelback reestablishes its role as a flagship address along Camelback Road and stands as a true luxury asset for the area. This investment brings a long-standing vision to life with renewed momentum.”
Phoenix-based Kinella Capital, led by TK Stratton, specializes in acquiring and completing complex development efforts, including stalled, lender-owned and distressed assets, and has stabilized numerous luxury multifamily projects in similar stages across Arizona. Kinella Construction holds both a KB1 General Contractor license and an A1 engineering license, providing in-house construction management and the technical depth required for sophisticated execution. Stratton’s two decades owning and operating Stratton Restoration, one of Arizona’s leading property restoration firms, further strengthen the firm’s construction-led platform and uniquely positions Kinella to advance One Camelback through the final stage of development.
“This project reflects the strength of collaboration between an experienced operator and forward-thinking investors,” added Nicoluzakis. “One Camelback will set a new benchmark for luxury living in the area, and we’re proud to have played a role in bringing this long-anticipated vision to fruition.”
Planned amenities include a rooftop sky terrace with pool and private cabanas, a state-of-the-art fitness studio, clubhouse and resident lounge, co-working spaces, dog park, pet spa, urban garden, package lockers with cold storage and ground-floor retail and dining.
The property is steps from the Camelback Light Rail Station, providing direct access to Uptown, Midtown, Downtown Phoenix and Tempe, and is adjacent to Uptown Plaza, a premier retail destination offering diverse dining, coffee and lifestyle options.
With construction nearing completion, One Camelback is poised to debut as a defining luxury residential address in Phoenix’s Uptown district.
