Commercial Real Estate

Sales Transactions 1. Sunroad Enterprises purchased Parcland Crossing, a 383-unit multifamily community at 800 W. Willis Road, Chandler, for $125M. CBRE’s Tyler Anderson, Sean Cunningham, Asher Gunter and Matt Pesch of Phoenix Multifamily Institutional Properties …

Sales Transactions 1. Sares Regis Group purchased Level at Sixteenth, a 240-unit, mid-rise apartment community at the intersection of 16th Street and Camelback Road, Phoenix, for $69.1M. Steve Gebing and Cliff David with Institutional Property …

Sales Transactions 1. MG Properties Group purchased Centra, a five-story, 223-unit podium-style multifamily property in Midtown Phoenix for $74.5M. Steven Nicoluzakis and David Fogler of Cushman & Wakefield represented the seller, FORE Property. 2. APRA …

Sales Transactions 1. Reserve 100 LLC, an affiliate of Blandford Homes won the auction of 373 acres of State Trust Land at Chandler Boulevard between 19th and 27th Avenues, Ahwatukee, with a bid of $175.5M. …

Sales Transactions 1. A private party purchased Copper Falls, a newly constructed, 240-unit multifamily asset in Glendale, for $72M. Steve Gebing and Cliff David, Executive Managing Directors with Institutional Property Advisors (IPA), a division of …

Sales Transactions 1. TruAmerica purchased The Urban, a 435-unit, garden-style multifamily community 3601 East McDowell Road, for an undisclosed amount. The seller was not disclosed. 2. An affiliate of Walton Street Capital has originated a …

Sales Transactions  1. Tides Equities purchased Terrace Park Apartments, a 213-unit value-add apartment complex at 8130 W. Indian School Road, Phoenix, for $37.86M, from Western Wealth Capital. NorthMarq’s Phoenix investment sales team of Trevor Koskovich, Bill Hahn, Jesse Hudson, …

Sales Transactions 1. An entity tracing to Raymond Kao purchased Escape at Arrowhead, a 324-unit multifamily property at 7951 W. Beardsley Road, Peoria, for $103.75M, from an entity tracing to Embrey Development. 2. An entity …

Sales Transactions 1. Decron Properties purchased Broadstone Rio Salado, a 276-unit Class A multifamily property in Tempe for $96.15M, from Alliance Residential Co. The purchase is Decron’s first acquisition within the state. 2. Ezralow Company, …

Sales Transactions 1. CapRock Partners purchased Northern 101 Commerce Center, a 388.6KSF, state-of-the-art industrial development at Glen Harbor Airpark, Glendale, for $44M, from Creation Equity. The development was designed and built by LGE Design Build. …

Sales Transactions 1. An entity tracing to RPM Co. purchased the Village at Harvard Crossing, a 184-unit single-family rental community at the SWC of Pebble Creek Parkway and Virginia Avenue, Goodyear, for $56.12M, from The …

Sales Transactions 1. Erickson Companies purchased a multi-state industrial portfolio consisting of a 40KSF headquarters facility on 13-acres at 250 N. Beck Avenue, Chandler, and a 20KSF regional office facility on 15-acres at 8350 Industrial …

Sales Transactions 1. KKR purchased a five-building industrial portfolio, representing 540,039 square feet of multi-tenant, fully leased infill space at 4441 W. Polk Street, 120 E. Watkins Street, 4720 W. Van Buren Street and 5240 …

Sales Transactions 1. BPM Real Estate Group purchased PetSmart’s corporate headquarters campus at 19601 N. 27th Avenue, Phoenix, for $110M. The property includes three, four-story buildings as well as a six-level parking structure. CBRE’s Barry …

Sales Transactions 1. A Chicago-based investment advisor purchased the first phase of the Lotus Project in Chandler, for an undisclosed amount, from Conor Commercial Real Estate and joint venture partner WHI Real Estate Partners. The …

Sales Transactions 1. TerraCap Management, LLC purchased Koll Cotton Center, a seven-building, 225.4KSF light industrial park at 4050 E. Cotton Center Boulevard, Phoenix, for $30.89M. JLL’s Senior Managing Director Mark Detmer and Senior Director Ryan …

Sales Transactions 1. Pacific Development Partners purchased Montreux, a 335-unit luxury mid-rise apartment asset at Desert Ridge in Phoenix for $117M. Steve Gebing and Cliff David of Institutional Property Advisors (IPA), a division of Marcus …

Sales Transactions 1. JLL Income Property Trust bought the Lotus Project, a four-building, 474KSF, Class A distribution center complex in Chandler for $91M, from Conor Commercial Real Estate. JLL Income Property Trust is calling the …

Sales Transactions 1. Investcorp purchased Tempe Commerce Park, a five-building, 536.1KSF, multi-tenant, light industrial park at 7340, 7350, and 7360 S. Kyrene Road and 7343 and 7333 S. Hardy Drive, Tempe, for $85.35M. The JLL …

Sales Transactions  1. Apartment Ventures NNC has purchased Village at Aspen Place, a 222-unit, Class A apartment community located within Aspen Place at the Sawmill in Flagstaff, for $64.5M, from an undisclosed seller.   2. Barker Pacific Group purchased a Class A self-storage portfolio …

Sales Transactions 1. Millburn & Company purchased Heritage at Deer Valley, an 832-unit multifamily community at 3010 W. Yorkshire Drive, Phoenix, for $178.5M. CBRE’s Tyler Anderson, Sean Cunningham, Asher Gunter and Matt Pesch of Phoenix …

Sales Transactions 1. Funds managed by Oaktree Capital Management, L.P. recently purchased The Core Chandler, a 220-unit, Class A multifamily community in Chandler, for $65M. CBRE’s Tyler Anderson, Sean Cunningham, Asher Gunter and Matt Pesch …

Sales Transactions  1. An affiliate of The Milestone Group has purchased two multifamily assets totaling 448 apartment units through a recapitalization valued at approximately $85M. The first is Pavilions at Arrowhead, a 248-unit garden-style complex at 7400 W. Arrowhead Clubhouse …