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July 2020 Just as Andrew Biskind and Ryan Hartman prepare to open a leasing office for an 85-unit single-family rental community in south Phoenix, they're already making plans for a similar community two blocks away. Unlike an apartment community, these single-story rental units offer more room, complete with their own backyard and doggie doors. Not only are they growing in popularity among renters, but investors also are scooping them up. Plans call for...

March 2020 Owner and applicant, Avenue North LLC recently submitted plans to the City of Phoenix for a new multifamily development to be located east of the NEC of 16th Street and Baseline Road. The applicant is requesting to rezone approximately 7.44 acres on the south side of the Western Canal at 1640 E. Baseline Road from One Family Residence District, Baseline Area Overlay District, to Multifamily...

January 2020 After acquiring the Mirabella apartments (rebranded to Yardz on Kolb) in December of 2016 for $15,225,000, Avenue North sold the 410 unit apartment property to a private investment group for $36,700,000 in January 2020. Berkadia's Art and Clint Wadlund were the brokers on the transaction.  The property is located in Tucson, AZ and was built in the 1970's. Avenue North invested significant capital into the property...

December 2019 Avenue North acquired approximately 12 acres to build a 165-unit horizontal apartment development. The project will be one of the planned first single family rental communities in North Las Vegas, with limited like-kind competitive supply in the Las Vegas marketplace. The rental homes are an inspired alternative to traditional apartment communities with no common-walls, no neighbors above or below you, and private back-yards on...

June 2019 The buyer of the 180-unit Class C multifamily asset financed the deal with a nearly $14 million Freddie Mac acquisition loan Avenue North has acquired The Cottages, a 180-unit Class C community in Las Vegas, from 3D Investments for $18.4 million, according to Yardi Matrix. Walker & Dunlop originated $13.8 million in Freddie Mac acquisition financing for the new owner. The loan matures in 2029. The...

A Scottsdale multifamily investor has purchased some vacant infill land in south Phoenix to build its own project, looking to ride the popularity of single-family hybrid rental communities. Avenue North LLC paid $2.05 million cash for 6.7 acres at the northwest corner of 16th Street and Baseline Road. Plans call for developing a $16.9 million project totaling 85 units, said Andrew Biskind, vice president of Avenue North...

Latitude Mgmt Sells Yardz at Mirabelli Apt Complex in Las Vegas November 2017 Avenue North Purchases 168-Unit Complex for $12.3M Latitude Management Real Estate Investors, Inc. sold the 168-unit Yardz at Mirabelli apartments in Las Vegas, NV to Avenue North LLC for $12.28 million, or approximately $73,000 per unit. The 152,320-square-foot multifamily property delivered in 1984 at 6250 Hargrove Ave. in the Charleston Preservation submarket of Clark County. It...

July 2017 Las Vistas at Papago Park Apartments Sell for $13.5+ Million Apartment Community Re-Named Proximity at Papago Park and Slated for Modernization Phoenix, July 12, 2017 – Las Vistas at Papago Park, a 13-building apartment community at 1010 N 48th St., has been sold for $13,550,000 to an entity sponsored by Avenue North, LLC (www.ave-north.com) of Phoenix. The local buyer has plans to rename the property Proximity...

December 2016 Mirabella Apartments features 401 apartment units and a plethora of amenities. Tucson, Ariz.—Berkadia recently announced it has arranged the sale of Mirabella Apartments, a multifamily property in Tucson, Ariz., for $16.2 million. Senior Managing Director Art Wadlund and Associate Director Clint Wadlund of the Tucson office led the team that completed the transaction. The property was sold by Salt Lake City-based Bridge Investment Group, and the...

October 2016 Denver, CO – CBRE (http://www.cbre.com/) has completed the sale of Brix on Belleview, a 175- unit apartment community located at 175 West Belleview Avenue in Englewood. The property, which was approximately 95.4 percent leased at time of sale, commanded a sale price of $25.73 million. Jake Young, Dan Woodward, Dave Potarf and Matt Barnett with CBRE’s Denver oÜce negotiated the transaction on behalf of the seller,...