Phoenix
ABI Multifamily Brokers $2M Sale in Phoenix
Pierson Palms Apartments traded hands between private investors from California and Arizona. ABI Multifamily represented both parties in the $2.22 million transaction.
Hines Completes Entitlement Phase of AZ Project
Hines completed the entitlement phase of Asteria Highlands in North Scottsdale, the company’s first Arizona single-family residential project. Construction will start in 2018.
Roxborough Acquires First Phoenix Community
The 168-unit property is located in the Paradise Valley submarket, adjacent to the Paradise Valley Mall. The company tapped Alliance Residential Co. as a third-party manager.
Johnston Properties Adds New Development in Phoenix
The owner of Agritopia and Barnone, two developments in Gilbert, Ariz., entered a joint venture with IPA/Liv Communities to develop its third community in the area. The project is slated to break ground this fall.
Wendy Forsythe to Join HomeSmart as COO
The real estate veteran used to serve as president of the brokerage division of T3 Sixty, one of the largest management consulting companies in the residential real estate industry.
JV Scores 2 AZ Properties
Modern Residential and Henley USA have acquired the 265-unit Sonoma Villas in Mesa and the 216-unit Sonoma Pines in Peoria.
Rainbow Tapped for Phoenix Affordable Community
The company will offer the residents of La Palmilla Apartments free on-site programs once the current owner, Reliant Group Management, completes renovations in mid-2018.
Tucson Community Trades for $38M
ROC Senior Living acquired Mission Palms from Stoneweg US. The property’s value rose by 46 percent since the last time it traded in 2013.
ABI Brokers Sale of 2 Phoenix Communities
The company has arranged the disposition of the 51-unit New Horizons Apartments and the 27-unit Country Club Apartments.
PB Bell, Gilbane Start Work on Phoenix Project
The joint venture broke ground on resort-style apartments in the Ocotillo master-planned community in Chandler, Ariz. Arista at Ocotillo will feature 211 units and reflects the Santa Barbara style of design.