The Small Space Marketplace

List Your Space

Find Space

Home About Us Executive Subscriber Membership RENTV Conferences Newsletter Contact Us Advertise
March 28, 2024
 Search RENTV
   Go!
 The REview
 News
News Home Page
Southern California
Northern California
Pacific Northwest
Texas/Southwest
Retail
Multifamily
Financing
Prop. Management
Archives
Press Releases
 R. E. Marketplace
Service Providers
JobWorks
Property Spotlight
 RENTV  Conferences
Subscriber Login:
  
Email      
    Go!
Password      
Forgot Password?



TEXAS/SOUTHWEST NEWS
Printer-friendly Version   Email an Associate
Phoenix Res Sales Total Up to $11.6 Mil

5/05/20

Two Phoenix multifamily properties have traded hands in recent transactions totaling $11.66 mil. Brian Smuckler, Jeff Seaman, Derek Smigiel and Bryson Fricke of CBRE in Phoenix represented the buyers and the seller in the transactions.

2936 N. 34th Place, Phoenix
2936 N. 34th Place, Phoenix
In one deal, 34 Arcadia, a newly renovated 45-unit contemporary boutique apartment community in Phoenix’s lower Arcadia neighborhood, was purchased by Champion 34 Arcadia LLC for $5.86 mil ($130.2k/unit). The buyer was a first-time Phoenix multifamily investor from California.

Located at 2936 N. 34th Place, the property is nearby to Biltmore Fashion Park and Camelback Corridor, one of the metro’s main employment corridors. It was sold by NDX Investments II LLC.

The property features studio and one-bedroom floor plans averaging 527 sf in size. Interior upgrades include in-suite laundry, stainless steel appliances, and upgraded countertops and bathrooms. Located at 2936 N. 34th Place, the property is nearby to Biltmore Fashion Park and Camelback Corridor, one of the metro’s main employment corridors.

Alex Walton with CBRE Capital Markets Debt & Structured Finance arranged the debt on behalf of the borrower.

In the other transaction, California-based Goldstein Investment Co acquired Idle Hours, a 28-unit apartment community in Phoenix, from Delaware-based Torino Holdings LLC for $5.8 mil ($207.1k/unit) in an all-cash transaction. The buyer was completing a 1031 exchange.

Located at 1501 E. Rovey Ave, the mid-century modern community is located in the North Central Corridor in Uptown Phoenix. The property was remodeled and repositioned in 2018 and features 800 sf, two-bedroom/one-bath floor plans.

Interior upgrades include in-suite laundry, stainless steel appliances, quartz countertops and upgraded bathrooms. Idle Hours provides residents with excellent access to various lifestyle amenities and several central employment corridors, including Camelback Corridor, Old Town Scottsdale, Downtown Phoenix and Tempe.







Return to the Archive page


 


 


 


 
 



Home | About Us | Newsletter | Contact Us | Executive Subscriber Membership | Executive Subscriber Home | Advertise
Southern California | Northern California | Pacific Northwest | Southwest | Retail | Multifamily | Financing | Property Management
Archives | Press Releases | Service Providers | JobWorks | Property Listings

Copyright © 2024 by RENTV, All Rights Reserved
Website designed by Regency Web Services, Inc. and powered by Lightning Media