News 2
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News 2

Avenue North Plans More Multifamily on Baseline Rd.

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…

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3D INVESTMENTS SELLS LAS VEGAS APARTMENTS

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…

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SCOTTSDALE MULTIFAMILY INVESTOR TO BUILD $16.9M PROJECTION SOUTH PHOENIX

February 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…

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AVENUE NORTH BUYS 168 UNITS IN LAS VEGAS

November 2017

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…

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AVENUE NORTH BUYS 200 UNITS IN PHOENIX

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…

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BERKADIA COMPLETES $16M SALE IN TUCSON

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…

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 SALE OF BRIX ON BELLEVIEW APARTMENTS

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,…

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SALE OF BETHANY APARTMENTS

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…

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 AURA NAMED BEST CURB APPEAL BY UNITS MAGAZINE

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…

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SALE OF AURA APARTMENTS

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…

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SALE OF BONFIRE APARTMENTS

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…

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 TEMPE APARTMENT DEVELOPMENT

New Tempe Apartments on Light Rail to Replace Mobile Home Park June 2014 In the rolling, undeveloped outskirts of the metro area, tracts are easy to plan, grade and build. When it comes to infill, there are challenges—like a lot of configuration. Pony Acres presents a head-scratching, creative juice-flowing project to Ayers Saint Gross Architects + Planners. Developer McClintock Station LLC has a 5.1-acre parcel with an existing…

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SALE OF RANCH APARTMENTS

June 2014

Marcus & Millichap Sells 32-Unit Multifamily Asset in the Central Avenue Corridor Of Phoenix.
Marcus & Millichap, a leading commercial real estate investment services firm with offices throughout the United States and Canada, announces the sale of The Ranch at Midtown, a 32-unit apartment property located in Phoenix, AZ. The asset commanded a sales price of $2.56 million or $80,000 a unit. Brian Tranetzki and Rich…

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Sale of Shorewood Apartments

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,…

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5 COOLEST APARTMENT COMPLEXES IN PHOENIX

June 2014

When it comes to neighborhoods, we’ve dished the dirt on the 10 best, the five up-and-comers, and the five most expensive. Now it’s time to cater to cribs that keep you tuned in without being tied down. Yep, it’s time to take a look at Phoenix’s coolest apartments. From Grand Avenue and Midtown to Roosevelt Row and downtown central, here are our top five…

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AURA AT MIDTOWN

August 2012

Real estate developer Ryan Hartman says apartment complexes in central Phoenix that he’s been renovating will appeal to renters who are “artistic, eclectic and urban.” Life at Midtown includes 131 units in three complexes. The apartments, built-in 1960, have a mid-century modern style, Hartman said. “I love architecture, and these buildings have really good bones,” he said. The project includes Aura, a 96-unit complex at 3623…

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