Arizona Archives

IDEAL Capital Group Purchases Sentio in Phoenix for $108 Million

by Channing Hamilton March 12, 2024

PHOENIX — IDEAL Capital Group has acquired Sentio, a 325-unit property in Phoenix, from Hines. The asset traded hands for $108 million. Sentio was built in 2023. Units feature open-concept floor plans, smart-home technology, energy-efficient appliances and window treatments. Residents have access to interconnected amenity spaces and walking paths. Asher Gunter, Matt Pesch, Austin Greon and Sean Cunningham of CBRE represented the seller in the deal. Trevor Breaux, Troy Tegeler and Ryan Greer of CBRE Debt & Structured Finance arranged financing for the buyer.

March 12, 2024

Arizona Investment Sales News Western

Cushman & Wakefield | PICOR Brokers $6.1 Million Sale of Wasko Modern Apartments in Tucson, Arizona

by Channing Hamilton February 27, 2024

TUCSON, ARIZ. — Cushman & Wakefield | PICOR has negotiated the sale of Wasko Modern Apartments, a community located at 2302 E. Fort Lowell Road in Tucson. Wasko Modern LLC sold the asset to 2302 East Fort Lowell Owner LLC to $6.1 million. Allan Mendelsberg and Joey Martinez of Cushman & Wakefield | PICOR represented both parties in the deal. The investment property comprises 38 units across 30,280 square feet.

February 27, 2024

Arizona Build-to-Rent Investment Sales News Western

Inland Real Estate Acquisitions Brokers Sale of 190-Unit Build-to-Rent Community Near Phoenix

by Channing Hamilton February 23, 2024

GLENDALE, ARIZ. — Inland Real Estate Acquisitions LLC has negotiated the sale of Onyx at Westgate, a 190-unit build-to-rent property in the Phoenix suburb of Glendale. Mark Cosenza of Inland Real Estate Acquisitions arranged the deal on behalf of an Inland affiliate, with assistance from and David Neboyskey and associate counsel. Onyx at Westgate was developed in 2022 and consists of 58 one-bedroom, 85 two-bedroom and 47 three-bedroom units. Each one-story home features 10-foot ceilings, wood plank-style flooring and smart home technology packages. Amenities include a pool and spa, green …

February 23, 2024

Arizona Investment Sales News Western

ABI Multifamily Brokers $2.1 Million Sale of Eight-Unit Community in Downtown Phoenix

by Channing Hamilton February 21, 2024

PHOENIX — ABI Multifamily has arranged the $2.1 million sale of an eight-unit community located at 614-616 N.10th Ave. in Phoenix’s downtown area. The property was built in 1936 and 1954 and was renovated in 2023. Units come in one- and two-bedroom floor plans. Dallin Hammond, Mitchell Drake, Carson Griesemer, Tom Palestina, Andrew Arambula and Bryce Neagle of ABI represented the Arizona-based seller in the deal. Neither the buyer nor seller were disclosed.

February 21, 2024

Arizona Investment Sales News Western

Wood Partners Sells Alta Cooley Station Apartments in Gilbert, Arizona for $80 Million

by Channing Hamilton January 8, 2024

GILBERT, ARIZ. — Wood Partners has sold Alta Cooley Station, a 248-unit complex in the Phoenix suburb of Gilbert, to a private individual based in California for $80 million. Steve Gebing and Cliff David of Institutional Property Advisors, a division of Marcus & Millichap, represented the seller and procured the buyer in the transaction. Alta Cooley Station offers amenities such as a pool, spa, outdoor entertainment space, open-concept leasing office and clubhouse, micro-offices, a private conference room and workspaces. Units feature nine- and 10-foot ceilings, extra-wide entryways, laundry closets with …

January 8, 2024

Village of Chandler in Chandler, Arizona

Arizona Build-to-Rent Development Leasing & Marketing News Western

TruVista Development Begins Leasing 109-Unit Build-to-Rent Community Near Phoenix

by Channing Hamilton January 3, 2024

SOUTH CHANDLER, ARIZ. — TruVista Development has begun leasing Village of Chandler, a 109-unit build-to-rent community in the Phoenix suburb of Chandler. Located at 6075 S. Gilbert Road, Village of Chandler features one-, two- and three-bedroom units. Amenities include a pool, dog park, outdoor workout stations, barbeque grills, walking trails, detached garages and private backyards with pet-friendly doors. The community is currently 33 percent leased and is managed by MEB Management Services.

January 3, 2024

Arizona Investment Sales News Western

Fore Property Co. Sells 310-Unit Cuvee in Glendale, Arizona for $86 Million

by Channing Hamilton December 11, 2023

GLENDALE, ARIZ. — Fore Property Co. has sold Cuvee, a 310-unit complex in Glendale, to Pillar Communities for $86 million. Asher Gunter, Matt Pesch, Sean Cunningham and Austin Groen of CBRE represented the seller in the deal. Cuvee was built in 2023 at 7200 N. 91st Ave. The property comprises 310 units and offers amenities such as two pools, a fitness center, clubhouse with TV lounges, game room, coffee bar and business center.

December 11, 2023

Arizona Finance News Western

JLL Capital Markets Arranges $10.7 Million to Refinance The Valencia Apartments in Phoenix

by Channing Hamilton December 7, 2023

PHOENIX — JLL Capital Markets has arranged a $10.7 million loan to refinance of The Valencia Apartments, a garden-style community in Phoenix. The borrower was CALCAP Advisors. Built in 1983, The Valencia Apartments offers 127 units across two stories. The property was recently renovated with updates to unit fixtures, hardware, exteriors and common areas. Amenities include two pools, a sundeck and covered parking. JLL worked on behalf of the borrower to secure the fixed-rate, five-year Fannie Mae loan. Brad Miner, Elle Miraglia and Frank Choumas led the JLL Capital Markets Debt …

December 7, 2023

Arizona Development News Western

Capital Square, Sunstone Two Tree Begin Constructing $49 Million Build-to-Rent Complex Near Phoenix

by Channing Hamilton December 7, 2023

GLENDALE, ARIZ. — Capital Square and Sunstone Two Tree have broken ground on Ironwood Homes at Rosefield, a new build-for-rent community in the Phoenix suburb of Glendale. The 320-unit complex will be situated on a 29-acre lot at the southeast corner of Northern Parkway and N. Sarival Avenue. The partnership acquired the lot in September. Capital Square Glendale BFR is currently raising $49 million in equity from accredited investors for the complex’s development. Ironwood Homes at Rosefield will offer 102 detached single-family homes, as well as 218 townhomes. Units will …

December 7, 2023

Arizona Development News Western

Habitat Metro Opens 102-Unit ECO MESA in Phoenix Suburb

by Channing Hamilton December 5, 2023

MESA, ARIZ. — Habitat Metro has opened ECO MESA, a 102-unit community in the southeastern Phoenix suburb of Mesa. Located at 127 W. Pepper Place in Mesa’s downtown area, ECO MESA comprises 179,227 square feet across seven stories. Units come in studio, one- and two-bedroom layouts. Amenities include a 14,000-gallon heated pool, lounge with a kitchen, game room and a water-vapor fireplace. Willmeng Construction served as general contractor for the project, which was developed on a former parking lot. CCBG Architects designed the community.

December 5, 2023