Phoenix
Greystone Earmarks $36M for AZ Apartments
Aldea at Estrella Falls, a 328-unit community in Goodyear, a suburb of Phoenix, includes grills, a fitness center and a heated pool.
Kidder Mathews Hires New SVP in Phoenix
Karl Abert has more than 25 years of real estate experience. In his new role, he will be in charge of coordinating investment brokerage, banking and structured loans.
On the Market: 5 Interesting Listings for the Week of 3/19
This week’s listings include a qualified contract-eligible LIHTC community in Louisiana, a new luxury community in Boston and a beachside property in San Diego.
ABI Brokers $8M Sale of Lender REO Asset in Phoenix
The buyer plans to invest $1 million in interior and exterior upgrades to improve the property, which is situated across the street from the 19th Avenue/Glendale light rail station.
WWC Continues Phoenix Divestment Streak
The Canadian company acquired the asset in 2016. ROI from the current transaction is projected at approximately 18 percent over the 20-month term.
High Street, MetLife Break Ground in Phoenix
The partnership will construct a five-story 190-unit community that will include a coffee bar, interactive lounge space and gaming area.
Phoenix Community Sells for $15M
Weidner Apartment Homes sold the Murano Apartment Homes, located in the Arcadia neighborhood of Phoenix. Berkadia represented the firm in the transaction.
Tempe Luxury Property Trades for $73M
Transwestern Development built the 290-unit Vela Apartments in partnership with a private investor. The developer obtained $34 million in construction financing from Bank of the Ozarks.
On the Market: 5 Interesting Listings for the Week of 3/5
This week’s multifamily listings include a portfolio in Denver’s Glendale market and newly converted condominiums in Scottsdale, Ariz.
Western Wealth Completes $6M Divestment in Phoenix
The Canadian company initially bought a stake in the community in 2015, with the current transaction representing a 32 percent price increase compared to the original acquisition.