Phoenix
On the Market: 5 Interesting Listings for the Week of 6/4
This week’s listings include an upscale community six miles from the Las Vegas Strip, a privately owned property in Phoenix’s growing South Mountain Village area, and more.
Dalan, VM Management Buy 138-Unit Phoenix Asset
The previous owner acquired the property in 2015 for $10.7 million and renovated it extensively before placing it back on the market.
TruAmerica, Oaktree Snag $142M Portfolio
The joint venture acquired the 424-unit Galleria Palms in Tempe, Ariz., and the 456-unit Aviata in Las Vegas.
ABI Brokers $5M Sale in Phoenix
The community underwent an exterior renovation in 2015 when it was acquired by the seller. The current owner has the opportunity to increase value by implementing interior upgrades.
PCS Development Completes AZ Community
The Premiere at Dana Park in Mesa includes 198 units and a Crossfit studio, a putting green and self-service mail kiosks.
Security Properties Nabs $59M Phoenix Community
The company plans to upgrade Pavilions on Central, which includes 254 units and a spa, a fitness center and 400 parking spots.
Canadian Investor Buys $46M Phoenix-Area Asset
The 360-unit community in Chandler last traded more than a decade ago, when PEM Real Estate acquired it as part of a portfolio deal.
Goldman Sachs Buys AZ Luxury Property
The 341-unit Hanover Mill Avenue was purchased from The Hanover Co. and is situated three blocks from Arizona State University, within walking distance of the Metro Light Rail.
Baron Properties, Buchanan Street Sell $44M Phoenix Community
Vue Park West, which the joint venture acquired in 2014 for $30 million, is situated within the 250,000-square-foot Park West mixed-use development.
Rincon Partners Buys $22M Community in Phoenix
Previous ownership implemented a thorough renovation program in 2015. The asset traded at almost four times the original purchase price.