Phoenix Community Commands $62M

Kasten Long Commercial Group’s Linda Fritz-Salazar and Scott Trevey brokered the transaction in which Green Leaf Partners purchased a 306-unit asset from Evergreen Development.

Green Leaf on Bell

Green Leaf on Bell

Kasten Long Commercial Group has facilitated the sale of Green Leaf on Bell, a 306-unit community in Phoenix. Green Leaf Partners purchased the asset from Evergreen Development for $61.7 million. According to Yardi Matrix data, the transaction involved a $40.3 million Freddie Mac loan. Linda Fritz-Salazar, associate broker, and Scott Trevey, senior associate, were part of the brokerage team that handled the deal. 

Formerly known as Trellis, the community is located at 1100 E. Bell Road, 15 miles north of downtown Phoenix. Nearby transportation routes include Interstate 17 and Piestewa Freeway. The property is close to several shopping and dining establishments. Bell Canyon Pavilions shopping center is within a 10-minute drive.

Completed in 2018, the asset encompasses one-, two- and three bedroom floorpans, ranging from 726 to 1,248 square feet. The units are spreads across 15 two- and three-story buildings and all the apartments include washers and dryers. Among others, common-area amenities include a fitness center, clubhouse, swimming pool and controlled access.

Recently, another community with more than 300 units changed hands in the metro. Tides Equities purchased Crossroads for $33.5 million.

Image courtesy of Yardi Matrix

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