|
|
6/05/25
|
A three-property multifamily portfolio in Downtown Phoenix, totaling 323 units was acquired by Regent Properties in a $90 mil transaction. The portfolio includes Linear (104 units), iLuminate (111 units) and The McKinley (108 units), three boutique, Class A multifamily communities located within one-half mile of each other in the city’s Roosevelt Row neighborhood.
Built by Baron Properties between 2016 and 2020, Linear (295 East Roosevelt Street), iLuminate (290 East Roosevelt Street) and The McKinley (280 West McKinley Street) feature high-quality podium construction, air-conditioned interior corridors, multiple elevators, resort-style swimming pools, rooftop patios and contemporary urban design aesthetics.
Founded in 1989, Regent Properties is an SEC-registered investment advisor and is a real estate investment management and development firm based in Los Angeles and Dallas. The company is a vertically integrated operator and fund manager with current investments concentrated in eight Sun Belt markets. Regent's assets under management are $1.8 bil as of the end of March.
CBRE's Asher Gunter, Matt Pesch, Austin Groen and Sean Cunningham represented the seller, Baron Properties. Jesse Weber and Andrew Behrens of CBRE Debt & Structured Finance arranged financing on behalf of the buyer. The transaction marks Regent Properties’ first Phoenix-area multifamily acquisition.
“Multifamily assets in Downtown Phoenix continue to attract significant interest from institutional investors, and this portfolio was an exceptionally attractive opportunity to acquire three high-performing communities,” said Gunter. “Regent Properties made an extremely strategic choice for their first Phoenix multifamily acquisition.”
According to CBRE, Downtown Phoenix is the metro’s largest employment corridor, supporting approximately 138,000 jobs. The Roosevelt Row neighborhood is a walkable arts district that features museums, galleries, cafes, bars and culinary scene.
|
|
 Return to the previous page
|
|
|
|
|
Printer-friendly Version
Email an Associate
