|
|
7/31/25
|
San Diego-based ColRich closed on a significant multifamily acquisition, paying $62.3 mil for Mason Oliver, a 292-unit ($213.4k/unit), Class A community located at 11 S. 12th St in downtown Phoenix.
Built in 2016, Mason Oliver is comprised of two stand-alone podium buildings separated by one block, with the 12th and Washington light rail station located within walking distance between the two buildings. Each building offers a full suite of amenities, including two swimming pools and spa areas with barbecue grills, two fully equipped fitness centers, two resident clubhouses and two leasing centers.
The community offers newly renovated studio, one-, two- and three-bedroom apartment homes, featuring upgraded wood-style flooring, new appliances, modern lighting, and sparkling fixtures. The property is just minutes from local landmarks like the Chase Field, Children’s Museum of Phoenix, ASU Downtown Phoenix, and dining favorites like Pizzeria Bianco and Blanco Cocina and Kitchen.
CBRE's Matt Pesch, Asher Gunter, Sean Cunningham and Austin Groen represented the seller, Knightvest Capital. Trevor Breaux and Troy Tegeler , also with CBRE, arranged financing for the buyer.
“Mason Oliver’s urban infill location in Downtown Phoenix, adjacent to a light rail stop, combined with the community’s large floor plans and unique design, presented a very attractive investment opportunity in a submarket with strong and growing demand drivers,” noted Pesch.
Phoenix is one of the top markets in the country for multifamily demand, posting 15,400 units of absorption through June 2025, the third-highest year-to-date absorption total of all U.S metros, according to data analyzed by CBRE.
|
|
 Return to the Archive page
|
|
|
|
|
Printer-friendly Version
Email an Associate
