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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,...

August 2015 Marcus & Millichap sells Central Phoenix multifamily for $3.16M/$79k per unit Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced the sale of Bethany at Midtown, a recently renovated mid-century art deco style apartment building in the Uptown Phoenix corridor. The asset commanded a sales price of $3,160,000 or $79,000 a...

July 2015 2015 Curb Appeal Awards Honorable Mentions 1-Best Historic Restoration Description: Village Green’s Central West End City Apartments • St. Louis Part of the four-building community called Central West End City Apartments, this community features a unique entrance. The building’s regal quality is emphasized with wrought-iron awnings, flags and traditional landscaping, while artsy lettering and striped fabric awnings add a modern and casual flair. This combination of historic...

May 2015 Midtown Phoenix apartments sold for $8.7 million A midtown Phoenix apartment complex was sold for $8.7 million by San Diego-based firm Pathfinder Partners, LLC to Denver-based Capital Real Estate, according to a statement released Tuesday. The 96-unit complex, located near Seventh Avenue and Osborn Road, was initially bought in 2012 by Pathfinder Partners and Avenue North for $4.1 million. Formerly called Academy Apartments, the firm renamed the...

August 2014 Phoenix - Clear Sky Capital Airmont LLC in Phoenix (Marcus Kurschat, principal) paid $1.65 million ($68,750 per unit) to buy the 24-unit Bonfire at Midtown apartments at 529-530 E. Mariposa Street in Phoenix. The seller was 5th & Camelback LLC in Scottsdale (Ryan Hartman, principal). The cash sale was brokered through Brian Smuckler and Jeff Seaman of CBRE in Phoenix. Public records show the...

June 2014 Pathfinder Partners, LLC, a San Diego-based firm specializing in opportunistic real estate investments, has closed the $1.9 million sale of Shorewood Apartments, a 21-unit community located in the midtown neighborhood of Phoenix, Ariz., just north of downtown. The property was acquired by Washingtonbased Atrium Apartments, LLC. According to Lorne Polger, senior managing director of Pathfinder, his firm and partner Ryan Hartman of Phoenix-based Avenue North,...