Phoenix
Aukum Group Buys Phoenix Asset for $41M
The Praedium Group sold Adobe Ridge, a 224-unit community in Glendale, Ariz., in a deal facilitated by Institutional Property Advisors.
Demand Keeps Up With Supply in Phoenix
Healthy employment and demographic trends are boosting multifamily demand in the Valley of the Sun, where rent growth is expected to reach 5.0 percent this year.
StreetLights Residential Breaks Ground in AZ
The company assumed a $47.9 million loan to develop The Cameron, a 349-unit luxury community in Tempe.
On the Market: 5 Interesting Listings for the Week of 6/25
This week’s listings include an heirloom property near Roxbury Park and Century City in Beverly Hills, a community in the heart of Texas that is primed for Fannie or Freddie green financing, and more.
Western Wealth Completes 40th Acquisition in Phoenix
The Canadian firm expanded its Arizona portfolio with the acquisition of Sun Wood, a 220-unit age-restricted community in Peoria, Ariz.
Sterling Real Estate Expands Value-Add Portfolio with Phoenix Asset
Cambridge Court Apartments is a 286-unit community that traded for $24 million. The company plans to invest in improvements.
CBRE Brokers $42M AZ Sale
Sonoma Ridge encompasses 240 units. Tyler Anderson, Sean Cunningham, Asher Gunter and Matt Pesch from CBRE’s Phoenix office represented the seller in the transaction.
NexMetro Sells First Phoenix-Area Community
Avilla Palm is a hybrid development, with the physical separation and private backyards of single-family homes and the centralized management of multifamily assets.
Akara Partners Buys Land for Downtown Phoenix Tower
The project, Kenect Phoenix, is set to comprise 320 units across 23 stories, and feature multiple rooftop amenities, as well as 8,000 square feet of ground-floor retail.
Suburban Phoenix Community Receives $17M
HFF represented the partnership between Western Wealth Capital and an MDC Realty Advisors USA Inc.-managed fund. CIT Bank provided the five-year loan.