Arizona

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

Arizona Investment Sales News Western

Institutional Property Advisors Brokers Sale of Courtyard Towers in Mesa, Arizona

by Channing Hamilton November 30, 2023

MESA, ARIZ. — Institutional Property Advisors, a division of Marcus & Millichap, has brokered the sale of Courtyard Towers, a 13-story residential tower in Mesa. Cliff David and Steve Gebing represented the seller and procured the buyer. Soltrust Robson purchased the asset from Okland Capital for an undisclosed price. The transaction was financed by Blueprint Capital Income REIT. Courtyard Towers was constructed in 1984 on 1.3 acres. The high-rise community currently offers 169 units. The buyer plans to renovate the community with updates to the unit finishes and amenities. After the …

November 30, 2023

Arizona Development Leasing & Marketing News Western

Sanders and Amos Begins Pre-Leasing $50 Million Single-Family Rental Community in Tucson, Arizona

by Channing Hamilton November 28, 2023

TUCSON, ARIZ. — Sanders and Amos has begun pre-leasing Casitas Catalina in Tucson. The $50 million project offers 194 single-family rental units on a 19-acre site. Units come in one-, two- and three-bedroom floor plans with pre-installed Wi-Fi, covered parking and personalized door keys. The developer expects to complete the project in early 2024. The first move-ins are slated for December 2023. MEB Management Services will serve as the property manager.

November 28, 2023

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