Phoenix
PrivatePortfolio Group Pays $68M for Scottsdale M-F Complex; $40M Student Housing Project Nears Completion in Tempe
In a $68.3 million deal, PrivatePortfolio Group LLC of Seattle has acquired Crown Court Apartments, a 416-unit multi-family property in Scottsdale. Tyler Anderson, Sean Cunningham and Asher Gunter of CBRE Group Inc.’s Phoenix office represented the seller and structured the transaction. The property was 95 percent occupied at the time of…
Continue reading →Crescent to Build Scottsdale Quarter’s First Multifamily Project
Glimcher Realty Trust, a retail REIT, and Crescent Communities, a Charlotte-based real estate investment, development and operating company, recently announced plans to break ground on a 275-unit, luxury apartment community in Scottsdale under a joint venture agreement.…
Continue reading →Bascom Group Pays $35M for Downtown Chandler M-F Asset
By Amalia Otet, Associate Editor An affiliate of Irvine, Calif.-based Bascom Group L.L.C. has completed the $35.2 million acquisition of The Fairways, a 352-unit Class A apartment community located in Downtown Chandler. Cliff David and Steve Gebing of Marcus & Millichap Real Estate Investment Services Inc. represented the seller; Bascom Group was…
Continue reading →Sky Harbor Launches $1.58B Automated Rail System
Sky Harbor celebrated a major milestone with the opening of the $1.58 billion PHX Sky Train system on April 8. Striving to provide a seamless travel experience, the electrically-powered, automated train will operate 24-hours a day, 365 days a year, transporting passengers between the 44th Street and Washington METRO light…
Continue reading →Macy’s Plans $35M Expansion for Goodyear Fulfillment Center
Macy’s Inc. has recently announced it would invest circa $35 million in expanding its Goodyear online fulfillment center. The expansion will also bring an additional 125 jobs to the area. According to the retailer’s plans, construction is expected to begin this summer, with an opening date set for the spring…
Continue reading →Gilbane, P.B. Bell Launch Upscale 389-Unit M-F Complex in Chandler
Gilbane Development Company and The P.B. Bell Companies have teamed up to develop a luxury apartment community in Chandler. Called Almeria at Ocotillo, the multifamily development will feature 389 units with one, two and three-bedroom options.…
Continue reading →Mark-Taylor, Kitchell to Develop 590-Unit M-F Project in Tempe
Mark-Taylor Inc. has recently announced it would team up with Phoenix-based Kitchell Development Co. to develop a 590-unit multifamily project in Tempe. The giant apartment community will be called San Sonora.…
Continue reading →Optima Sonoran Village Leads Downtown Scottsdale’s M-F Development Wave
The first phase of Optima Sonoran Village, consisting of a 210-unit apartment building in downtown Scottsdale has recently marked an important milestone for the local apartment market; the seven-story tower is the first completed project in a wave of thousands of apartments proposed downtown.…
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