Commercial Real Estate

Sales Transactions 1. ABI Multifamily announced the sale of the Metro Phoenix 5 Portfolio, one of the largest marketed Arizona multifamily portfolio sales to date, for a combined $414.5M between five properties and 1,448 units …

Sales Transactions 1. CBRE Global Investors (CBRE Investment Management) has closed on a 50-acre, three-building industrial site known as Fairway 10 in Avondale for $126M. The buildings total 718KSF and were built this year at …

Sales Transactions 1. Monarch Alternative Capital, in partnership with Tourmaline Capital Partners, reportedly has plans to buy four of the Esplanade buildings in Phoenix’s Camelback Corridor from Clarion Partners and LBA Reality. The price is …

Sales Transactions 1. Tide Equities sold the 472-unit Midtown on Main Street Apartments in Mesa for $137M. The buyer was Kohlberg Kravis Roberts & Co. 2. MODERNE Communities closed on $106M for the build-out of …

Sales Transactions 1. Stonemont Financial Group has purchased a 145.5KSF north Phoenix Amazon delivery station at 500 W. Pinnacle Peak Road from Seefried Properties and a Crow Holdings Capital-advised fund for $74.7M. The seller was …

Sales Transactions 1. Greystar Real Estate Partners LLC has sold five apartment complexes in the Phoenix area to Ivanhoe Cambridge for $541.4M as part of Greystar’s recently announced $3.6B portfolio sale. The properties, cities, units, …

Sales Transactions 1. Institutional Property Advisors, a division of Marcus & Millichap, announced the sale of The Halifax, a 300-unit multifamily asset in Phoenix for $76M. IPA’s Cliff David and Steve Gebing represented the seller, …

Sales Transactions 1. Decron Properties Corp. has paid $125.5M for Avery on the Green, a 324-unit property in Chandler. The purchase is the company’s fourth in the Valley in the past six months. 2. Gurney’s …

Sales Transactions 1. Harvard Investments, Toll Brothers, and Värde Partners announced the formation of a joint venture to acquire the remaining undeveloped land in the Estrella mixed-use master-planned community in Goodyear. News reports listed the selling …

Sales Transactions 1. The Howard Hughes Corp. has purchased the proposed 37,000-acre Douglas Ranch master-planned community in Buckeye. The company paid $600M to El Dorado Holdings Inc. and JDM Partners for the vacant land, which …

Sales Transactions 1. EJM Development Co. recently sold 11 industrial sites in Greater Phoenix to Starwood Capital Group for $407M. The 11 properties were part of a 14-property total sale. The Maricopa County properties were …

Sales Transactions 1. Equus Capital Partners, Ltd. acquired a 74 property, 7.3MSF industrial portfolio located across the Phoenix and Tucson metropolitan areas. The $1.5B, 342-building portfolio is comprised of predominantly multi-tenant in-fill shallow bay properties and …

Sales Transactions 1. Oxford Properties Group announced it has agreed to acquire a 14.5MSF infill and light industrial portfolio from KKR for approximately $2.2B. The portfolio consists of 149 distribution buildings located across 12 major …

Sales Transactions 1. JLL Capital Markets has closed the $165.25M sale and secured $102M in acquisition financing for La Encantada, a 246KSF shopping center in Tucson. JLL represented the seller, Macerich Company. A group of …

Sales Transactions 1. LPC Desert West announced the 1.25MSF Park 303 Phase I in Glendale has sold for $186M to BentallGreenOak, making it the largest single-building industrial transaction in state history. The speculative project completed …

Sales Transactions 1. CBRE announced the sale of the multifamily communities Ascend at Kierland and Elite North Scottsdale to The Ezralow Company for $312.5M. CBRE’s Tyler Anderson, Sean Cunningham, Asher Gunter and Matt Pesch of Phoenix Multifamily Institutional Properties represented the …

Sales Transactions 1. A Delaware-based entity managed by Greenberg Traurig paid $125M for the former Chrysler Proving Grounds in Wittmann. The seller of the land was iStar. The most interesting aspect of the blockbuster deal …

Sales Transactions  1. Inland Real Estate Group of Cos. Inc. purchased the 286-unit Christopher Todd Communities at Estrella Commons build-to-rent property in Goodyear, for $98.098M, and the 222-unit Christopher Todd Communities on Happy Valley Road in Phoenix for $76.15M. That …

Sales Transactions  1. Funds managed by Oaktree Capital Management L.P purchased Ravenwood Heights, a 240-unit multifamily community at 647 W. Baseline Road, Tempe, for $94.5M. CBRE’s Tyler Anderson, Sean Cunningham, Asher Gunter and Matt Pesch of Phoenix Multifamily Institutional Properties represented the …

Sales Transactions  1. American Realty Advisors has acquired Goodyear Logistics Center, a 901.7KSF Class A industrial asset at 575 S. 143rd Avenue in Goodyear for an undisclosed amount. The undisclosed seller was represented by CBRE National Partners. The property is being managed by Lincoln …

Sales Transactions 1. A California-based buyer purchased Sky Ancala Apartments, a 330-unit luxury apartment community at 11545 N. Frank Lloyd Wright Boulevard, Scottsdale, for $104.5M. ABI Multifamily‘s Phoenix-based Institutional Apartment Group – Alon Shnitzer, Rue …

Sales Transactions 1. Sares Regis Group purchased Elevation Chandler, a boutique, 163-unit apartment complex in Chandler for $56.15M. Steve Gebing and Cliff David with Institutional Property Advisors (IPA), a division of Marcus & Millichap, procured …

Sales Transactions 1. Bridge Investment Group purchased Parc Roundtree Ranch, a 275-unit, newly constructed multifamily asset in Peoria, for $88.8M. Steve Gebing and Cliff David with Institutional Property Advisors, a division of Marcus & Millichap, …