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Phoenix Multifamily

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Phoenix Multifamily

20-Unit Fiesta Arms Apartments in Central Phoenix Sell for $740K

Elain and Maher Meida purchased Fiesta Arms, a 20-unit multifamily property at S/SEC Central Ave & Dunlap Ave in Central Phoenix from FSFA 89 LLC for $740,000.

CBRE’s Brian Smuckler and Jeff Seaman represented the seller, FSFA 89 LLC.

ABI Multifamily Introduces Snap Stats

Screenshot of ABI Multifamily‚Äôs Snap Stats Screenshot of ABI Multifamily’s Snap Stats (

Excerpt: As a precursor to the highly anticipated launch of the ABI Multifamily Quarterly Report, we are releasing ABI Snap Stats. This insightful infographic will provide an overview of important multifamily activity in the Phoenix-MSA. Snap Stats is an executive summary of our quarterly report, the first of which is set to be published in the coming weeks.

Editor’s Note: Excellent info-graphic.

ABI Multifamily

Domain Communities Acquires 672-Unit Autumn Ridge Apartments in Central Phoenix for $35.9M

Domain Communities purchased Autumn Ridge apartments, a 672-unit multifamily property at NWC 19th Ave & Thunderbird Rd in Central Phoenix from Summit Autumn Ridge LLC. for $35.9M.

ABI Multifamily: Interactive Multifamily Construction Map Updated to Include 3Q 2014

Screenshot of ABI Multifamily‚Äôs Map Resource Screenshot of ABI’s Map Resource (

ABI Multifamily updated the company’s “Phoenix Multifamily Pipeline” map. It features a total of 141 properties currently planned, under construction or recently completed.

It’s easy to see the greatest concentration of activity is focused in the core areas of the Valley: Downtown and Central Phoenix, Tempe, and Central Scottsdale. Though, the southern part of Chander appears to have a surprisingly large grouping of dots.

ABI Multifamily

Pacific Life Insurance Acquires 300-Unit Promenade at Desert Sky Apartments in Phoenix for $11.85M

Pacific Life Insurance Company purchased Promenade at Desert Sky, a 300-unit multifamily property at SEC 63rd Ave & Thomas Rd in West Phoenix from Woodspear Properties for $11.85M.

Carlibach Acquires 204-Unit Esteban Park in Central Phoenix for $20.7M

Carlibach L.P. purchased Esteban Park, a 204-unit multifamily property at N/NEC 32nd St & Southern Ave in Central Phoenix from Esteban Apartments LLC for $20.675M.

Berkadia’s Mark Forrester, Ric Holway and Dan Cheyne negotiated the transaction.

Bottom of story: The buyer is interested in acquiring more multifamily properties in Metro Phoenix.

Alliance Residential Included in So Scottsdale’s Luxury Living Section

Alliance Residential wants you to know that the three of the company-managed communities are featured in So Scottsdale’s “Rising Up: Luxury Apartments and Condos in Scottsdale.”

The properties are:

• Broadstone Waterfront

• Broadstone Lincoln

• The Stetson

Look for the link at the end of the story to read the full article.

304-Unit Emerald Shores Apartment Complex in West Phoenix Sells for $8M

An undisclosed buyer purchased Emerald Shores, a 304-unit multifamily property located at E/NEC 83rd Ave & Indian School Rd in West Phoenix from Gran Victoria Housing LLC for $8M.

Marcus & Millichap’s Rich Butler, Brian Tranetzki and Steve Gebing represented the seller, Gran Victoria Housing LLC.

Estates at North Mountain LLC Acquires 128-Unit Multifamily Property in Central Phoenix for $3.6M

Estates at North Mountain, LLC purchased Estates at North Mountain, a 128-unit multifamily property located at S/SWC 19th Ave & Cactus Rd in Central Phoenix from GLZ Holdings, LLLP for $3.625M.

CBRE’s Brian Smuckler and Jeff Seaman represented both the buyer, Estates at North Mountain, LLC, and seller, GLZ Holdings, LLLP.


Trend Report: Metropolitan Phoenix’s Multifamily Value-Add Revival

Excerpt: CBRE’s Brian Smuckler and Jeff Seaman, part of the company’s Multifamily Investment Properties team in Phoenix and specialists in the B and C quality, private-capital, multifamily investment market, point to strong market fundamentals and a demographic shift back toward centralized, urban, amenity-rich neighborhoods as catalysts of this multifamily trend.


Smith Partners Selected to Build Phoenix Central Station, 475-Unit Multifamily Project Planned in Downtown Phoenix

The City of Phoenix selected Smith Partners LLC to build Phoenix Central Station, an $82M project planned at NWC Central Ave & Van Buren St in Downtown Phoenix.

The project is expected to include 475 apartments, 30,000 square-feet of commercial space and a dog park. Construction is set to begin August 2015 with a 2017 delivery date.

Dawson Holdings Acquires 140-Unit Hill N’ Dell Apartments in Central Phoenix for $6M

Dawson Holdings Inc. purchased Hill N’ Dell Apartments, a 140-unit multifamily property at NW/NWC Loop 202 & Van Buren St in Central Phoenix for $6M. (Seller undisclosed.)

Winding Creek Apartments LLC Acquires 54-Unit Multifamily Property in Central Phoenix for $1.7M

Photo of Winding Creek Apartments at 2501 W Ocotillo Rd in Phoenix. (credit: ABI Multifamily) Winding Creek Apartments (

ABI Multifamily announced that Winding Creek Apartments LLC purchased Winding Creek, a 54-unit multifamily property at S/SWC I-17 & Glendale Ave in Central Phoenix from J & Z Property Management LLC for $1.7M.

ABI Multifamily Report: High Price of Construction Costs in Phoenix MSA (Part 2)

In a continuation piece from Part I, Colonel Hindsight, ABI Multifamily’s Rue Bax and Thomas M. Brophy look at:

• Rising construction costs

• Potentially “stagnating” per unit prices

•”Better practice” of finding value in a contracted CAP rate environment

ABI Multifamily

PLJ Pinchot Holdings Acquires 54-Unit Pinchot Green Apartments in Central Phoenix for $3.6M

PLJ Pinchot Holdings LLC purchased Pinchot Green Apartments, a 54-unit multifamily property at NW/NWC 24th St & Thomas Rd in Central Phoenix, from San Francisco Group LLC for $3.6M.

City to City CRE’s Michael Finch represented the buyer, PLJ Pinchot Holdings LLC.

JW Sterns’ Dan Dulin represented the seller, San Francisco Group LLC.

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