Exclusive: Goldman Sachs Pays $81M for Phoenix Property
This is the first time the asset changes hands.
Goldman Sachs & Co. has acquired Broadstone Seventh Street, a 258-unit multifamily property in Phoenix, according to Yardi Matrix information. Alliance Residential Co. sold the asset for $81.4 million, or $315,406 per unit, in an all-cash transaction.
Alliance Residential developed the community and brought it online in 2025, with ORB Architecture in charge of the design.
Trailing on a 12-month basis, multifamily deliveries across Phoenix have accounted for 4.4 percent of the metro’s total inventory as of May 2026. The figure is the third highest nationwide, after Austin, Texas (6.5 percent) and Charlotte, N.C. (6.4 percent).
Due to this high supply across its multifamily sector, Phoenix stood amongst the metros with negative rent growth on a yearly basis as of May, clocking in at -3.1 percent, between Austin, Texas (-3.7 percent) and Denver (-2.9 percent), according to a recent Yardi Matrix report. Similarly, on a monthly basis, Phoenix also posted a steep decline of -0.4 percent, closing the top 30 list of metros tracked by Yardi Matrix.
A closer look at Broadstone Seventh Street
Previously dubbed Broadstone on Seventh, the five-story community stretches across a 3-acre site at 5727 N. Seventh St. Out of the total number of residences, 160 have one bedroom and 98 have two bedrooms. Units range between 597 and 1,263 square feet, the same data provider shows. Shared amenities include a fitness center, clubhouse, playground, swimming pool, spa and subterranean parking area with 404 spots. Greystar is currently in charge of day-to-day operations at the property.
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Broadstone Seventh Street is near Interstate 17 and Arizona State Route 51, being in proximity of Phoenix Mountains Preserve. Downtown Phoenix and the Phoenix Sky Harbor International Airport are little over 8 miles south and southeast, respectively.
Recent investment transactions in metro Phoenix include MacNaughton’s purchase of Residences Kierland from Quarterra Multifamily. The 290-unit community in Scottsdale, Ariz., changed hands with the help of a $90 million acquisition loan issued by Nationwide. In April, NALS Apartment Homes paid $101.4 million to Blackstone for Arrowhead Summit, an upscale asset in Glendale, Ariz.
