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Phoenix Multifamily

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Phoenix Multifamily

ABI Multifamily Report: Market Trends & Dynamics in Phoenix MSA Apartment Construction (Part 1)

ABI Multifamily’s Rue Bax and Thomas M. Brophy provide an in-depth perspective on the Phoenix multifamily market.


• Phoenix is in a construction boom - North & South Scottsdale and Tempe being the hot spots in the Valley.

• Institutional investors are “pouring money” into the market.

• Can the current rental pool sustain new inventory?

Much more...

5317 N 11th St LLLP Acquires 8-Unit Multifamily Property in Central Phoenix for $465K

5317 N 11th St LLLP purchased Drury Lane Apartments, an 8-unit multifamily property at N/NWC 12th St & Camelback Rd in Central Phoenix, from Halavan Limited Partnership for $465,000.

Vestis Group’s Natan Jacobs, Les Litwin and Chad Barber represented the buyer, 5317 N 11th St LLLP.

Seller, Halavan Limited Partnership, was self-represented.

Fountainhead Phoenix LLC Acquires 273-Unit Multifamily Property in Central Phoenix for $8.1M

Fountainhead Phoenix LLC purchased Fountainhead Apartments, a 273-unit multifamily property at N/NWC 35th Ave & Indian School Rd in Central Phoenix, from Clancy & Associates for $8.1M.

Abacus Capital Acquires 240-Unit Multifamily Property in Central Phoenix for $41.15M

Abacus Capital Group LLC purchased Level at Sixteenth, a 240-unit multifamily property at NW/NWC 16th St & Camelback Rd in Central Phoenix, from CPF Sixteenth Street LLC for $41.15M.

Westwood Management Acquires Castellana Apartments in Central Phoenix

Westwood Management LLC purchased Castellana Apartments, a 117-unit multifamily property at NW/NWC I-17 (Black Canyon Fwy) & Bell Rd in Central Phoenix, from Castellana LLC for $7M.

Kasten Long Commercial Group’s Linda Fritz-Salazar represented both the buyer, Westwood Management LLC, and seller, Castellana LLC.

Virani Family Trust Acquires McDowell Apartments near Downtown Phoenix

Virani Family Trust purchased McDowell Apartments, an 8-unit multifamily property at E/SEC 15th Ave & McDowell Rd near downtown Phoenix, from Pinnacle AZ Development LLLP for $719,000.

RAN Realty & Property Management’s Tom Rizen represented the buyer, Virani Family Trust.

Vestis Group’s Natan Jacobs and Les Litwin represented the seller, Pinnacle AZ Development LLLP.

Encanto Oasis Partners Sell 26-Unit Multifamily Property in Central Phoenix for $1.2M

26-unit Encanto Oasis Apartments at NEC 19th Ave & Thomas Rd in Central Phoenix sold for $1.2M.

Marcus & Millichap’s Brian Tranetzki and Rich Butler represented both the buyer, undisclosed, and seller, Encanto Oasis Partners, in the transaction.

David Barnes Acquires 126-Unit Multifamily Property in Central Phoenix for $4M

David Barnes purchased Briawood Apartments, a 126-unit multifamily property at NEC 35th Ave & Missouri Ave (Central Phoenix) from Edward Sibley for $4.05M.

Cushman & Wakefield’s Brett Polachek and Jim Crews represented the buyer, David Barnes.

Edward Sibley, seller, was self-represented.

180-Unit Paradise Foothills Apartment Community Receives $8M in Acquisition Financing

Paradise Foothills at W/NWC Cave Creek Rd & Thunderbird Rd in Central Phoenix received $8M in acquisition financing. (Recipient undisclosed.)

Additional details about the recent sale can be found at the Sept. 10, 2014 entry, “385-Unit Phoenix Apartment Complex Sells for $12.55M

Phoenix Uprising Acquires 582-Unit North Phoenix Apartment Complex for $48M

Phoenix Uprising LLC purchased Sierra Ranch, a 582-unit multifamily community at NWC Tatum Blvd & Bell Rd (North Phoenix) from FSC Saddleback Associates LLC for $48M.

DAUM Commercial Real Estate’s Maury Panza represented the buyer, Phoenix Uprising LLC.

Berkadia’s Mark Forrester and Ric Holway represented the seller, FSC Saddleback Associates LLC.

North Phoenix 28-Unit Apartment Complex Sells for $1.2M

An undisclosed buyer purchased Paradise Arbor, a 28-unit multifamily property at S/SEC 31st St & Bell Rd (North Phoenix) from PHX Capital LP for $1,176,000.

ABI Multifamily’s John Kobierowski, Alon Shnitzer. Rue Bax, Doug Lazovick and Eddie Chang represented the seller, PHX Capital LP.

12-Unit Nationwide Apartments Sells for $420K in Central Phoenix

Nationwide Apartments, a 12-unit multifamily property at NWC 7th Ave & Indian School Rd (Central Phoenix) sold for $420,000.

Vestis Group’s Natan Jacobs and Les Litwin represented the buyer (undisclosed).

Pro-formance Realty Concepts’ Frank Mendivil represented the sellers, Miguel Loza and Javier Escobedo.

SRM Development Acquires Central Phoenix Property for $1.3M

SRM Development purchased Coronado Commons, a planned residential development at NW/NWC 7th St & McDowell Rd in Central Phoenix from the Gutkin Family for $1,323,000.

Cashen Realty Advisors represented the buyer, SRM Devvelopment.

Commercial 33 Brokerage’s Josh Landers represented the seller, the Gutkin Family.

385-Unit Phoenix Apartment Complex Sells for $12.55M

Paradise Foothills apartments, a 385-unit multifamily complex at NWC Cave Creek Rd & Cactus Rd (Phoenix), sold for $12.55M.

Apartment Realty Advisors’s Bradley Goff and David Lord represented the seller, El Dorado Holdings Inc. (Buyer undisclosed.)

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

Alvarado Apartments at N/NWC 7th St & McDowell Rd (Central Phoenix) sold for $425,000. Buyer and seller are undisclosed.

Marcus & Millichap’s Chris Lake, Brian Tranetzki, and Richard Butler represented the buyer in the transaction.

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