Multifamily news in Phoenix
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Investcorp Snags Phoenix Community for $50M
The 582-unit Tuscany Palms in Mesa, Ariz., last traded in 2014, when P.B. Bell paid $29.5 million for its acquisition.
19 July 2017 08:15 -
The Local Breaks Ground in Tempe
Forum Real Estate Group is developing a mixed-use project that will include a nine-story apartment community with 286 units and a ground-floor Whole Foods Market 365 store.
17 July 2017 17:49 -
On the Market: 5 Interesting Listings for the Week of 7/10
This week's listings include a 1930s-era asset in Los Angeles and a three-unit brownstone on a tree-lined block in Jersey City, N.J.
14 July 2017 14:25 -
Phoenix Community Scores $24M Financing
The real estate investment trust arranged the first mortgage financing for the community. Pinnacle at Union Hills was purchased for $48 million using proceeds from an equity offering.
13 July 2017 11:59 -
Phoenix Community Commands $42M
Brass Enterprises made its first foray into the metro’s multifamily market with the acquisition of 1221 Broadway, a 194-unit garden-style property in Tempe, Ariz.
12 July 2017 08:30 -
CBRE Closes $40M Sale of Phoenix-Area Community
The company represented Baron Properties in the sale of the 240-unit community. The buyer partnership was represented by Mike Dow of Impact Multifamily Advisor.
03 July 2017 13:47 -
On the Market: 5 Interesting Listings for the Week of 6/26
This week's listings include two historic properties in New York: a 1920s-era community on Long Island and a Brooklyn walk-up built in 1910.
30 June 2017 15:07 -
South Phoenix Community Changes Hands for $12M
Cushman and Wakefield brokered the sale of La Reserve on 45th, a 301-unit property in the Maryvale neighborhood. A joint-venture purchased the asset from CEG Operating Partners.
23 June 2017 13:49 -
Phoenix Community Sells for $30M
Berkadia represented the seller, a subsidiary of Evergreen Development Co., which sold the 152-unit property to Pure US Apartments REIT.
21 June 2017 18:36 -
Liv URBN Tops Off Phoenix Condo Property
Contour on Campbell, the city’s newest condominium community, is closer to completion. The company plans to welcome first residents early next year.
21 June 2017 13:11 -
Ares, TruAmerica Buy Metro Phoenix Property for $31M
The joint venture plans a multi-million-dollar capital improvement program at Broadstone Gateway, a 240-unit community in Avondale, Ariz.
15 June 2017 08:53 -
CBRE Secures $90M for Phoenix Community
The Capital Markets Debt & Structured Finance team arranged the financing for San Sonoma, a 590-unit property with an average rental rate of $1,373.
31 May 2017 22:02 -
Optima Tops Out on Scottsdale Luxury Condo Tower
Move-ins for first residents at 7120 Optima Kierland are scheduled for early 2018, while all residences are expected to be completed in August 2018.
29 May 2017 13:17 -
Phoenix Community Changes Hands in $82M Deal
The new owner of Andante Apartments plans interior upgrades, as well as renovations of the clubhouse. The asset has an occupancy rate of 92.5 percent.
29 May 2017 08:42 -
Pure Snags $48M Phoenix Asset
The 264-unit Pinnacle at Union Hills previously traded in 2014, when TA Associates Realty acquired the Class A asset from JP Morgan Asset Management for $36.3 million.
26 May 2017 18:40