Phoenix
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.
On the Market: 5 Interesting Listings for the Week of 4/30
This week’s listings include a newly renovated age-restricted community in Vegas and a turnkey asset in central Richmond, Va.
SCB Designs 1,600-Bed Living/Learning Community
The mixed-use student housing property serves those attending Arizona State University and offers seven social and study lounges, six academic centers and two maker labs allowing students to work on projects.
ARA Newmark Hires Brokerage Expert
With almost 20 years of industry experience, Brett Polachek will be responsible for originating and managing multifamily investment sales across Arizona.
Olympus Property Launches 8th Fund
The firm added 869 units to its portfolio with the purchase of Olympus Steelyard in Chandler, Ariz.; Sundance Creek in Midland, Texas; and Sedona Ranch in Odessa, Texas.
NorthMarq Capital Arranges $14M Refi for Phoenix Luxury Property
Union at Roosevelt, an 80-unit luxury community just north of the city’s downtown, was completed in 2017 and reached full occupancy in March.