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11/05/25
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Salt Lake City-based Millburn & Company has acquired Alta Biltmore, a 215-unit luxury multifamily community located in the Camelback Corridor submarket of Phoenix. Industry sources suggest the deal closed at about $71 mil, or $330k per unit.
The asset, located at 1720 E. Camelback Rd, represents the company’s eighth multifamily acquisition in metro Phoenix since 2020. It was sold by Wood Partners, the property’s developer.
Completed in 2024, Alta Biltmore’s amenities include a central courtyard with a resort-style pool and spa, tanning deck, barbecue grills, and rooftop terrace. The resident clubhouse features an entertainment kitchen and a speakeasy. A 24/7 fitness center is equipped with state-of-the-art cardio and weight training equipment, as well as a separate yoga studio.
The community’s rooftop lounge has barbecue grills, covered seating, and panoramic mountain views. Additional amenities include micro-offices, private conference suites, bike storage and repair shop and EV charging stations.
CBRE's Asher Gunter, Matt Pesch, Sean Cunningham and Austin Groen represented the seller, a national multifamily developer.
“Alta Biltmore features high-quality wrap construction, best-in-class amenities, and the community has one of the most walkable locations in the submarket with high-end retail and fine dining in the surrounding Biltmore neighborhoods,” said CBRE’s Gunter. “The community’s combination of luxury appeal and ideal location generated significant interest as investors continue to look to Phoenix for sound multifamily acquisition opportunities.”
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