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Phoenix Multifamily
    

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Phoenix Multifamily

ABI Multifamily: Third Quarter 2014 MSF Multifamily Report

Screen capture of a small part of ABI Multifamily‚Äôs Third Quarter Report (abimultifamily.com) Screen capture of a small part of ABI Multifamily’s Third Quarter Report (abimultifamily.com)

ABI Multifamily published their Phoenix MSA Multifamily 3Q 2014 report.

abimultifamily.com

Rosalinda Court Apartments Sells for $545K

An undisclosed buyer purchased Rosalinda Court Apartments, a 9-unit multifamily property at N/NWC SR-51 (Piestewa Fwy) & Indian School Rd in Central Phoenix from Cinderbox, LLC for $545,000.

Cooper, Cardinal and Company’s Jack Cardinal represented the buyer (undisclosed).

Vestis Group’s Natan Jacobs, Les Litwin and Victoria Miachika represented the seller, Cinderbox, LLC.

Editor’s Note: Cooper Cardinal identifies the property as 4235 N 17th St and Vestis Group identifies it as 4223 N 17th St in their press release. I believe the actual address is 4235 N 17th St.

vestis-group.com

ABInsight | Phoenix Metro November 2014 Apartment Sales Stats

ABI Multifamly’s Report (abimultifamily.com)

ABI Multifamily provides an at-a-glance summary of November transactions. Be sure to follow the link below the info-graphic to their Sale Comps report.

ABI Multifamily

IDB Investments Acquires The Vue in Phoenix for $1.45M

IDB Investments, LLC purchased The Vue, a 26-unit multifamily property located at SWC 15th Ave & Missouri Ave in Central Phoenix) from Phoenix based JD 860, LLC for $1,450,000.

ABI Multifamily’s Doug Lazovick, John Kobierowski, Alon Shnitzer, Rue Bax and Eddie Chang represented both the seller, Phoenix based JD 860, LLC, and the buyer, IDB Investments, in the transaction.

ABI Multifamily

605 W Pierson LLP Acquires Pierson Villa Apartments in Phoenix for $568K

605 W Pierson LLLP purchased Pierson Villa, a 12-unit multifamily property located at SE/SEC 7th Ave & Camelback Rd in Central Phoenix) from Pierson Villas, LLC for $568,000.

Vestis Group’s Natan Jacobs, Les Litwin and Chad Barber represented the buyer, 605 W Pierson LLLP.

vestis-group.com

Vestis Group Brokers Sale of Citrus Acres Apartments in Phoenix for $156K

An undisclosed buyer purchased Citrus Acres, a 3-unit multifamily property located at N/NWC 40th St & Thomas Rd in Central Phoenix from Fannie Mae for $156,000.

The buyer plans to renovate the property into three luxury rental casitas. Vestis Group will oversee the redevelopment of the site.

Vestis Group’s Natan Jacobs, Les Litwin and Chad Barber represented the buyer in the transaction.

vestis-group.com

Westwood Management Acquires Solano Park Apartments in Central Phoenix for $3.7M

Westwood Management LLC purchased Solano Park Apartments, a 48-unit multifamily property located at SWC 17th Ave & Missouri Ave in Central Phoenix from an undisclosed seller for $3.7M.

Editor’s Note: CoStar’s headline indicates the property sold for $3.6M. The content of the article indicates the sale price as “almost $3.7 million.”

costar.com

Clear Sky Uptown II Acquires 18-Unit Plantation Arms in Phoenix for $870K

Clear Sky Uptown II, LLC purchased Plantation Arms, an 18-unit multifamily property located at W/SWC 7th St & Camelback Rd in Phoenix, from Tralke, LLC for $870,000.

CBRE’s Brian Smuckler and Jeff Seaman represented both the buyer, Clear Sky Uptown II, LLC, and seller, Tralke, LLC, in the transaction.

cbre.us

Richmark Holdings Acquires San Norterra in North Phoenix for $62.5M

Richmark Holdings purchased San Norterra, a 388-unit multifamily complex located at NE/NEC I-17 & Jomax Rd in North Phoenix, from San Norterra Apartments LLC for $62.5M.

brewaz.com

ABInsight: Phoenix MSA Nears 50% Unit Turnover

ABI Multifamily looks at a 5-year period for Phoenix MSA mutlifamily pricing (per unit and per SF) plus looks at unit inventory turnover.

Excerpt: Unit inventory turnover, expressed as a percentage of units sold, has steadily increased since 2010 which saw 9,796 of 238,828 units sell which equates to a 4.1% total unit turnover rate. We expect that rate to increase to 12% by the end of 2014.

Discussion available on Reddit: Phoenix MSA Nears 50% Unit Turnover

abimultifamily.com

Wood Partners Begins Construction of 278-Unit Multifamily Project in North Phoenix

Wood Partners announced that the company has begun construction of Alta Paradise Ridge, a 278-unit multifamily project on 5.85 acres of land at S/SWC 68th St & Mayo Blvd in Northeast Phoenix.*

* Wood Partners classifies the area as North Scottsdale.

marketwired.com

Coastal Group Acquires 150-Unit Hidden Cove Apartments in North Phoenix for $7.75M

Coastal Group purchased Hidden Cove, a 150-unit multifamily property at SW/SWC 19th Ave & Union Hills Dr in North Phoenix from Rosebud LLC for $7.75M.

costar.com

Cooper, Cardinal and Company Announce Sale of 26-Unit Mountain View Apartments in Central Phoenix for $800K

Cooper, Cardinal and Company announced the successful sale of Mountain View Apartments, a 26-unit multifamily property at S/SEC 17th Ave & Mountain View Rd in Central Phoenix, for $800,000. (Buyer and seller are undisclosed.)

Gary R. Cooper and Jack A. Cardinal represented the seller in the transaction.

azbigmedia.com

Cooper Cardinal Sells 21-Unit Casablanca Paso in North Phoenix for $750K

Found on www.CooperCardinal.com, Cooper Cardinal and Company announced the successful sale of Casablanca Paso, a 21-unit multifamily property at N/NEC I-17 & Thomas Rd in Central Phoenix, for $750,000. No other details are available.

coopercardinal.com

10-Unit Las Casitas Apartments in Central Phoenix Sells for $425K

Las Casitas Apartments, a 10-unit multifamily property at NW/NWC 15th Ave & Camelback Rd in Central Phoenix, sold for $425,000.

Cooper, Cardinal and Company’s Gary R. Cooper and Jack A. Cardinal represented the seller (undisclosed).

azbigmedia.com

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