PASSCO COMPANIES ACQUIRES $52.525M LUXURY APARTMENT COMMUNITY IN THRIVING SCOTTSDALE MARKET

Passco Companies, LLC has acquired a premier core 218-unit multifamily community for $52.525 million in Scottsdale, Arizona, which it is naming “Luxe Scottsdale.”  The community, built with an urban design, condominium finishes, and state-of-the art community amenities, was recently developed by the seller, Atlanta-based Wood Partners, according to Gary Goodman, Senior Vice President, Acquisitions for…

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CONAM ACQUIRES TWO VALUE-ADD MULTIFAMILY ASSETS TOTALING 524-UNITS IN LAS VEGAS AND PHOENIX

The ConAm Group (ConAm), a San Diego-based real estate investment, development and services firm, has expanded its multifamily portfolio in the Las Vegas and Phoenix markets with the acquisition of two multifamily properties.  The two acquisitions add 524 units to ConAm’s portfolio. Las Vegas Acquisition In Las Vegas, where ConAm already has a strong presence,…

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Parallel Capital Partners Acquires Landmark Phoenix Property for $126 Million

Continuing to expand its downtown Phoenix presence, San Diego-based Parallel Capital Partners, in joint-venture with Angelo, Gordon and Co., announced today it has acquired Arizona Center – a Class A, 16-acre mixed-use campus in downtown Phoenix – for $126 million. Spanning over one million square feet, the Van Buren Street property – acquired from Equity…

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Colliers International Hires Stan Sanchez, a Seasoned Retail and Investments Services Representative

Stan Sanchez has joined Colliers International in Greater Phoenix as senior vice president in the area of retail and investment services. “As a former business owner and Arizona native, Stan brings a deep understanding of the real estate industry and a strong business perspective that enables him to better understand today’s diverse market,” said Bob…

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ABI Multifamily Brokers 212 Units for $22.3M in Phoenix Metro’s Silicon Valley for Seattle-Based Security Properties

ABI Multifamily, the Valley’s largest locally operated, dedicated multifamily brokerage and advisory services firm, is pleased to announce the $22,303,217 sale of the Lakeside Apartment Homes, a 212-unit (out of 230 total units) community located in the Price Technology Corridor of Chandler, Arizona.   Lakeside Apartment Homes is an all two-story, garden style community, originally…

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SimonCRE Purchases Former Dirty Drummer Restaurant in Scottsdale

Commercial real estate developer SimonCRE purchased a +/- 3,170 SF freestanding retail building formerly known as the popular Dirty Drummer Restaurant and Bar. The building is located at 2730 N. Scottsdale Road near the intersection of Thomas Road & Scottsdale Road in Scottsdale, AZ. SimonCRE will begin construction on substantial improvements to the exterior and…

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Lincoln Property Co., Invesco Buy Phoenix’s Historic Luhrs City Center

Lincoln Property Company (LPC) and Invesco Ltd. have purchased the historic Luhrs City Center in downtown Phoenix. The joint venture will next initiate a multi-million-dollar renovation that will evolve the landmark into a mixed-use blend of creative office space, ground floor restaurants and retail – part of a downtown resurgence that includes an active office market,…

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