Friday, February 21, 2025
Read the Digital Magazines Subscribe to the Newsletter

Arizona

FirstStreet Happy Valley in Phoenix
ArizonaBuild-to-RentInvestment SalesNewsWestern

Harvard Investment Sells Build-to-Rent Community in Phoenix for $87.9 Million

by Channing Hamilton

PHOENIX — Harvard Investments has sold FirstStreet Happy Valley, a 212-unit build-to-rent community in Phoenix. Spruce Capital Group, a private family-owned investment firm, acquired the asset for $87.9 million. FirstStreet Happy Valley offers one-, two- and three-bedroom floor plans with attached and detached garages. The average size of the units is 1,904 square feet. Amenities include a dog park and washing station, a pool, spa, fitness center and clubhouse. The property was built two years ago and was 94 percent occupied at the time of sale.

Continue Reading
0 FacebookTwitterLinkedinEmail
Sierra Verde in Surprise, Arizona
ArizonaBuild-to-RentDevelopmentNewsWestern

Mark-Taylor Residential, Sunstone Two Tree Complete Build-to-Rent Complex in Surprise, Arizona

by Channing Hamilton

SURPRISE, ARIZ. — Mark-Taylor Residential and Sunstone Two Tree have completed Sierra Verde, a townhome-style build-to-rent community in the Phoenix suburb of Surprise. Sierra Verde offers two- and three-bedroom homes with attached garages, gated patio entry and smart home technology. The average unit size is 1,331 square feet. Amenities include a pool and spa, a playground and a fitness center.

Continue Reading
0 FacebookTwitterLinkedinEmail
Meritum Sonoran Desert in Phoenix
ArizonaDevelopmentFinanceNewsWestern

JLL Arranges $62.6 Million in Construction Financing for Meritum Sonoran Desert in Phoenix

by Channing Hamilton

PHOENIX — JLL Capital Markets has arranged $62.6 million in construction financing for Meritum Sonoran Desert, a garden-style development in Phoenix. Kevin MacKenzie, Brad Miner and Elle Miraglia worked on behalf of the borrower, IDM Cos., to secure the loan through a life company. Slated for completion in 2025, Meritum Sonoran Desert will comprise 348 apartments across 13 buildings. Units will come in one-, two- and three-bedroom layouts. Planned amenities include a clubhouse with a resident living room and kitchen, fitness center, a dog park and two pools.

Continue Reading
0 FacebookTwitterLinkedinEmail
A development project by Milhaus and Banyan Residential in Phoenix
ArizonaDevelopmentFinanceNewsWestern

Milhaus, Banyan Residential Break Ground on $117 Million Development in Phoenix

by Channing Hamilton

PHOENIX — Milhaus and Banyan Residential have begun constructing the first phase of a 515-unit community in Phoenix. UMB, with syndication by First Merchants and Academy Bank, provided a $63.3 million construction loan for the project. The community will feature studio, one-, two- and three-bedroom units ranging in size from 415 to 1,392 square feet. Amenities will include two clubhouses, pools, a fitness center, green spaces and a dog park. Phase one is expected to deliver in the fourth quarter of 2025, with a total development cost of $117 million.

Continue Reading
0 FacebookTwitterLinkedinEmail
ArizonaInvestment SalesNewsWestern

Orion Investment Real Estate Brokers $87.8 Million Sale of Aerie Happy Valley in Phoenix

by Channing Hamilton

PHOENIX — Orion Investment Real Estate has arranged the sale of Aerie Happy Valley in Phoenix. The buyer and seller were not disclosed, but the asset traded hands for $87.8 million. Aerie Happy Valley comprises 214 apartments in a mix of 55 one-bedroom, 101 two-bedroom and 58 three-bedroom units. Linda Fritz-Salazar and Angelessa Ritchie of Orion Investment Real Estate brokered the transaction.

Continue Reading
0 FacebookTwitterLinkedinEmail
Willow 38 in Phoenix
ArizonaDevelopmentLeasing & MarketingNewsWestern

Raintree Investment Corp. Opens Willow 38 in Phoenix’s Arcadia Neighborhood

by Channing Hamilton

PHOENIX — Raintree Investment Corp. has opened Willow 38, a townhome-style community in the Arcadia neighborhood of Phoenix. The property offers 48 units in three- and four-bedroom layouts. Units come with smart home technology packages, including smart thermostats and stoves, Ring doorbell cameras, leak detection and touchless door locks. Other features include garages pre-wired for EV charger capability, fenced backyards and walk-in closets. MEB Management Services is the manager for Willow 38.

Continue Reading
0 FacebookTwitterLinkedinEmail
An unnamed community developed by Milhaus and Banyan Residential in Phoenix
ArizonaDevelopmentFinanceNewsWestern

Milhaus, Banyan Residential Break Ground on $117 Million Community in Phoenix

by Channing Hamilton

PHOENIX — Milhaus and Banyan Residential have broken ground on a $117 million development on the southwest corner of 48th St. and Washington St. in Phoenix. The first phase of the 515-unit community is slated for completion in the fourth quarter of 2025. Units will come in studio, one-, two- and three-bedroom layouts. Amenities will include two clubhouses, pools, a fitness center, green spaces and a dog park. UMB provided a $63.3 million construction loan for the project, with syndication by First Merchants and Academy Bank.

Continue Reading
0 FacebookTwitterLinkedinEmail
Avilla Palomino in Glendale, Ariz.
ArizonaBuild-to-RentDevelopmentNewsWestern

NexMetro Communities, Mosaic Break Ground on Build-to-Rent Community in Glendale, Arizona

by Channing Hamilton

GLENDALE, ARIZ. — NexMetro Communities has broken ground on Avilla Palomino, a 197-unit build-to-rent community in the Phoenix suburb of Glendale. Mosaic is the general contractor for the development. Avilla Palomino will offer duplex and single-family detached units across an 18-acre site. Units will come in one-, two- and three-bedroom floor plans. Amenities include a pool with a spa, shaded pavilion, barbeque areas and a dog park with a dog wash station. A construction timeline for the project was not disclosed.

Continue Reading
0 FacebookTwitterLinkedinEmail
ArizonaInvestment SalesNewsWestern

Olympus Property Acquires 111-Unit Trailside Apartments in Flagstaff, Arizona

by Channing Hamilton

FLAGSTAFF, ARIZ. — Olympus Property has acquired Trailside Apartments, a 111-unit community in Flagstaff, for an undisclosed price. Trailside Apartments was built in 2020 and was built by Chason Affinity Cos. Units come in studio, one- and two-bedroom floor plans, ranging from 463 to 951 square feet in size. Amenities at Trailside Apartments include a clubhouse, business center, fitness center, steam room and an outdoor fireplace. The property is located less than a mile away from Northern Arizona University, the largest employer in the region.

Continue Reading
0 FacebookTwitterLinkedinEmail
ArizonaDevelopmentNewsWestern

Mill Creek Residential Breaks Ground on Modera Rio Salado in Tempe, Arizona

by Channing Hamilton

TEMPE, ARIZ. — Mill Creek Residential has broken ground on Modera Rio Salado in the Tempe neighborhood of Tempe Town Lake. Located at 835 W. Rio Salado Pkwy., Modera Rio Salado will offer 319 apartments in one-, two- and three-bedroom layouts. The property also includes 14,000 square feet of interior amenity space, including a pool deck, fitness center, lobby with a fireplace lounge area, bar, resident lounge, clubroom and co-working spaces. The community will also feature an outdoor dog run and a combined pet and bicycle wash facility, as well as …

Continue Reading
0 FacebookTwitterLinkedinEmail
Newer Posts
Older Posts
©2025 France Publications, dba France Media Inc.