Phoenix
Riding the Tech Wave in Phoenix
Multifamily development is not slowing down across the metro, as population growth and a thriving job market continue to fuel apartment demand.
Hunt Mortgage Provides $31M for Phoenix Property
KB Development’s Mountain Park Apartments is a garden-style community with 240 units and offers access to the recreational facilities at the nearby Mountain Park Ranch Home Owners Association.
On the Market: 5 Interesting Listings for the Week of 2/19
This week’s listings include two recently constructed properties in Florida and a condominium offering in Vineland, N.J., which has seen historically high occupancy rates since its delivery.
Phoenix Asset Commands $90M
Western Wealth Capital has acquired Carlyle at South Mountain, a 360-unit and 192-townhome asset. The transaction represents the company’s largest deal to date.
JV Acquires $200M AZ Development
Optima and Principal Real Estate Investors have procured phases I and II of Optima Sonoran Village Scottsdale. The partnership plans to develop phase III, which will feature a seven-story tower offering 176 apartment homes.
Walker & Dunlop Procures $50M Loan for Phoenix Asset
The company utilized Freddie Mac’s Mod-Rehab Program, which features three years of interest-only payments at a floating rate. Almost $10 million has been allocated for improvements.
WWC Completes Phoenix-Area Acquisition
The $17 million transaction represents the company’s 39th acquisition. The company invested more than $210 million in multifamily assets last year.
Tempe Community Trades for $7M
ABI Multifamily has brokered the sale of the 56-unit Arizona asset. The transaction was subject to a $4.5 million, 10-year loan provided by Opus Bank.
Umbrella Properties Snags $53M Phoenix Community
CBRE Multifamily Institutional Properties represented the seller, PrivatePortfolio Group, in its disposition of the 328-unit Aldea at Estrella Falls in Goodyear, Ariz.
On the Market: 5 Interesting Listings for the Week of 2/5
This week’s listings include a five-property LIHTC portfolio across the Baltimore and Washington, D.C., metros; a new community in Oregon; and a recently renovated property in Riverview, Fla.