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12/08/25
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Kinella Capital has acquired One Camelback, a 163-unit luxury residential project at the prominent intersection of Central Ave and Camelback Rd in Phoenix’s Uptown district. Long regarded as one of Phoenix’s most closely watched redevelopment efforts, One Camelback reached substantial completion before construction paused. With this sale and capitalization, Kinella Capital is advancing the project through the final stage of development.
Upon completion, the property will feature 163 luxury residences averaging 980 sf, along with 10.7k sf of ground-floor retail and a five-level subterranean parking garage. Residences will offer floor-to-ceiling windows with panoramic city and mountain views, 10.5- to 11-foot ceilings, exposed concrete finishes, quartz waterfall-edge kitchen surfaces, stainless steel appliances, spa-quality bathrooms, walk-in closets with custom built-ins, smart-home technology and in-unit washers and dryers.
Planned amenities include a rooftop sky terrace with pool and private cabanas, a state-of-the-art fitness studio, clubhouse and resident lounge, co-working spaces, dog park, pet spa, urban garden, package lockers with cold storage and ground-floor retail and dining. The property is steps from the Camelback Light Rail Station, providing direct access to Uptown, Midtown, Downtown Phoenix and Tempe, and is adjacent to Uptown Plaza, a premier retail destination offering diverse dining, coffee and lifestyle options.
A Cushman & Wakefield Equity, Debt & Structured Finance team of David Karson, Megan Schmitt and Mitch Rothstein arranged the financing on behalf of Kinella Capital. Steven Nicoluzakis and David Fogler of Cushman & Wakefield’s Multifamily Investment Sales group represented Kinella in the acquisition. Post Road Group, a Stamford, CT–based real estate investment firm, provided the capital solution supporting the project.
Phoenix-based Kinella Capital, led by TK Stratton, specializes in acquiring and completing complex development efforts, including stalled, lender-owned and distressed assets, and has stabilized numerous luxury multifamily projects in similar stages across Arizona.
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