Arizona

Villas-Litchfield-Phoenix
ArizonaBuild-to-RentFinanceNewsWestern

JLL Arranges $64.3M Refinancing for JV Owners of Two Phoenix BTR Projects

by Lynn Peisner

PHOENIX — JLL Capital Markets has arranged two refinancing loans totaling approximately $64.3 million on behalf of Chicago-based Blue Vista Capital Management and Palm Desert, California-based Family Development. The partners own Villas Litchfield (153 units) and Villas Goodyear (151 units), two newly constructed build-to-rent communities in Phoenix’s West Valley. ORIX Corp. was the lender. The loans — $33.1 million for the Litchfield property and $31.3 million for the Goodyear community — will serve as construction takeout financing for the two assets, which both opened in 2025. Greystar is the property manager at …

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Avant-at-Fashion-Center-Chandler
ArizonaInvestment SalesNewsWestern

Stockdale Capital Partners Buys Avant at Fashion Center in Phoenix Metro for $110.3 Million

by Lynn Peisner

CHANDLER, ARIZ. — Stockdale Capital Partners has acquired Avant at Fashion Center in Chandler for approximately $110.3 million. The 355-unit mid-rise community was built in 2017 and features a mix of studio, one- and two-bedroom units housed in seven, three- and four-story buildings on an 11.4-acre site. Amenities include a pool with a deck and cabanas, covered social areas, stainless steel grills, a resident lounge and a two-story fitness center. IPA’s Steve Gebing and Cliff David marketed the property on behalf of the undisclosed seller. This is Stockdale’s second acquisition …

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Vertical-East-Tucson
ArizonaInvestment SalesNewsWestern

Investors Capital Group Acquires Vertical East in Tucson for $22 Million

by Lynn Peisner

TUCSON, ARIZ. — Vertical Street Ventures has sold Vertical East Apartments in Tucson to Seattle-based Investors Capital Group for $22 million. IPA’s Clint Wadlund, Hamid Panahi, Steve Gebing and Cliff David represented the seller. The property was developed in 2001 and is comprised of two- and three-bedroom floor plans. Community-wide amenities include a pool and hot tub, a picnic area and a dog park.

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Retreat-at-Speedway-Tucson
ArizonaInvestment SalesNewsWestern

Bascom Group Acquires Tucson Value-Add Asset for $53.4 Million

by Lynn Peisner

TUCSON, ARIZ. — Bascom Arizona Ventures, an affiliate of Irvine, California-based The Bascom Group, has acquired The Retreat at Speedway in Tucson for $53.4 million via a value-add investment fund. The seller was Wiedner Apartment Homes. IPA arranged the deal on behalf of Wiedner as well as a loan from BrightSpire Capital Acquisitions LLC. Arizona-based property manager Bryten Real Estate Partners will manage the property. Built in 2001, the two-story Retreat at Speedway is comprised of one- and two-bedroom floor plans and amenities such as a pool, hot tub, fitness …

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Montreux-Phoenix
ArizonaFinanceNewsWestern

PCCP Provides $84 Million Refinancing Loan to Pacific Development Partners

by Lynn Peisner

PHOENIX — PCCP has provided an $84 million senior loan to Los Angeles-based Pacific Development Partners for the refinancing of Montreux, a 335-unit community in Phoenix. The three-building property was developed in 2019 and is approximately 89 percent leased. The financing was arranged by James Bach of CBRE. Montreux’s units are offered in one-, two- and three-bedroom floor plans. Amenities include two pools, a fitness center, a rooftop clubhouse, pickleball and tennis courts, a game room with a multi-sport simulator and parking.

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ArizonaBuild-to-RentInvestment SalesNewsWestern

Christopher Todd Acquires Metro Phoenix BTR Community

by Lynn Peisner

SURPRISE, ARIZ. — Christopher Todd Capital has acquired Yardly Paradisi, a 193-unit build-to-rent (BTR) property in Surprise, from Taylor Morrison. Northmarq arranged the sale as well as $32.8 million in acquisition financing. Scottsdale, Arizona-based Taylor Morrison is a for-sale homebuilder that also develops and acquires newly constructed for-rent housing communities under its Yardly brand. The buyer is a BTR operator known for its Christopher Todd Communities brand. Northmarq’s Phoenix-based team, led by Trevor Koskovich, Jesse Hudson and Logan Baca, represented the seller in the transaction, while Brandon Harrington, Bryan Mummaw, …

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Homestead-Lehi
ArizonaDevelopmentNewsWestern

Evergreen Breaks Ground on $62.5 Million Project in Metro Phoenix

by Lynn Peisner

MESA, ARIZ. — Locally based Evergreen Devco has broken ground on The Homestead at Lehi, a $62.5 million, 222-unit community in Mesa. Completion is slated for August 2027. The development team includes MT Builders, BMA Architecture, Atwell (engineering services) and Collaborative V (landscape architect and land planning). The three-story garden-style property will feature one- and two-bedroom units averaging 922 square feet and amenities such as a hot tub, a fitness center, a dog park, coworking space and electric vehicle charging stations.

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12th+Greenway-Phoenix
ArizonaDevelopmentNewsWestern

EMBREY Breaks Ground on 340-Unit Phoenix Project

by Lynn Peisner

PHOENIX — EMBREY has begun construction of 12th & Greenway, a 340-unit property situated on 7 acres at North 12th Street and Greenway Parkway in Phoenix. This is EMBREY’s ninth project in Arizona since the San Antonio-based developer entered the business in 2006. Completion is slated for the third quarter of 2027. The four-story community will offer flats and townhomes and such amenities as a resort-style pool and hot tub surrounded by private cabanas, an outdoor kitchen and fireplace, a 24-hour package room, fitness and yoga studios, a game room, …

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Cimarron-Apartments-Mesa
ArizonaInvestment SalesNewsWestern

Rockwell Property Co. Acquires Cimarron in Mesa for $33 Million

by Lynn Peisner

MESA, ARIZ. — Chicago-based investment firm Rockwell Property Co. has acquired Cimarron Apartments in the Phoenix suburb of Mesa for $33 million. The seller was a local family that had owned Cimarron as part of a portfolio for approximately 10 years. Built in 1985, the 210-unit garden-style community spans about 5 acres and features gated parking, an interior courtyard, a fitness center, a resort-style pool and hot tub, a dog park and a lawn games area. Rockwell is planning a value-add program that will focus on select unit upgrades and …

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Ventura-VIllas-Tucson
ArizonaInvestment SalesNewsWestern

Northmarq Arranges $32 Million Sale in Tucson

by Lynn Peisner

TUCSON, ARIZ. — Pacific Transwest — Nevada has acquired Ventura Villas in Tucson for $32 million. The seller was an LLC doing business as RDM Tucson. Northmarq arranged the sale, represented the seller. Built in 1989, Ventura Villas features one- and two-bedroom units, averaging 606 square feet. The community features a resort-style pool, a basketball court, a playground and laundry facilities. Northmarq’s Phoenix-based multifamily investment sales team was led by Trevor Koskovich, Jesse Hudson, Ryan Boyle and Logan Baca. Ventura Villas is located at 6200 S. Campbell Ave.

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