On the Market: 5 Interesting CRE for the Week of 8/29
This week's listings include trendy lofts in Phoenix and a state-of-the-art student housing community near Middle Tennessee State University.
On the Market is a weekly department curating the most interesting recent for-sale CRE assets. If you have a commercial real estate asset that you’d like to share with our readers, please email it to Mallory Bulman, Associate Editor.
Lofts on Thomas
Location:Â Phoenix, Ariz.
Offering Price: $2.9 million
Price/Unit:Â $187,188
Price/SF: $191.74
Units: 55
Features:Â Convenient location in Central Phoenix; located adjacent to St. Joseph Hospital and in close proximity to shopping, dining and employers in Downtown Phoenix; community amenities include a media lounge with internet access, a community room with a fireplace, flat screen television and coffee bar, a yoga and meditation studio, a 24-hour fitness center, and a pool; units feature open floor plans, tile, contemporary kitchens and walk-in closets.
Contact: Alon Shnitzer, ABI Multifamily, 602-714-1283
Verdugo Village
Location:Â Glendale, Calif.
Built: 1965
Units:Â 126
Features:Â Located in Los Angeles County; rental upside potential; unit mix of one-, two-, and three- and four-bedroom units; located minutes from Warner Bros., Nestle, Disney and more; mountain views in a luxury condo setting.
Contact: Shane Shafer, Berkadia, 949-223-0876
Highfield Commons
Location:Â Rochester, N.H.
Offering Price: $23.1 million
Price/Unit:Â $240,653.13
Units:Â 96
Features:Â Newly-constructed community; unit mix consists of 84 three-bedroom townhomes and 12 two-bedroom garden-style apartments; all units have two to two and a half bathrooms; each units has an attached garage with room for tandem parking in the driveway.
Contact:Â Thomas J. Fini, Fini Real Estate Group, 603-647-6800
East Main Quarters Apartments
Location:Â Murfreesboro, Tenn.
Offering Price: $24Â million
Price/Unit:Â $380,952.38
Units:Â 63
Beds: 252
Features:Â Newly-built, Class A student housing community; located in close proximity to Middle Tennessee State University; property consists of six three-story residential buildings and a clubhouse; unit amenities include a wet bar, built-in beverage center, mini fridge, granite countertops, a built-in desk, a private full-size bath and independent climate control.
Contact:Â Dwight O’Neal, Marcus & Millichap, 615-390-2727
The Cedars
Location:Â Albuquerque, N.M.
Offering Price: $11 million
Price/Unit:Â $78,571.43
Units:Â 140
Features:Â Located in close proximity to Downtown and Uptown in Class A infill location; nine available floor plans and choice of one- or two-story townhome units; assumable Fannie Mae financing at 67 percent LTV; property include 1.4 acres for future development; upside potential for increasing rents 13 percent to submarket average; amenities include two swimming pools, an updated clubhouse, a fitness center, two laundry facilities and a dog park.
Contact:Â Todd Clarke, NM Apartment Advisors, 505-440-8633
