Phoenix
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.
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.