Western Wealth Capital of Canada Buys Multifamily Property Near ASU for $17 Million

Western Wealth Capital, a Vancouver, Canada-based multi-unit rental property investment firm, recently purchased the 164-unit Amber Gardens in Tempe for $17 million ($103,000 per unit). Western Wealth Capital now owns 24 properties and 3,998 units in the Phoenix area. The firm is the 3rd largest multifamily property owner in Phoenix in terms of number of…

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Phoenix Apartments Sell for $3.2M, New Ownership Plans Upgrades

A 49-unit multifamily complex at 4021-4025 N. 40th St., Phoenix, sold for $3,200,000 or $65,306 per door. The new owners of the Tidewood Apartments plan to modernize the 51-year-old property. The Lee & Associates multifamily team of Bryson Fricke, Multifamily Properties and Todd Braun, Principal, represented the ownership, Campbell Lodging, Inc., Anaheim, CA. The buyer…

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CONSTRUCTION SPENDING HOLDS STEADY IN AUGUST AND IS UP BY NEARLY 5 PERCENT FOR THE FIRST EIGHT MONTHS OF THE YEAR AS DEMAND REMAINS “ROBUST”

Construction spending held steady in August compared to July but is up nearly five percent for the first eight months of the year compared to same period in 2015, according to an analysis by the Associated General Contractors of America. Association officials said the new spending figures indicates that the industry’s recovery may be at…

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Central Phoenix Apartment Property Sells for $5.3 Million

Colliers International in Greater Phoenix has negotiated the $5,325,000 sale of Patio 15, a Central Phoenix apartment property located at 1523 West Colter St. “This property offered a great opportunity for the buyer to acquire real estate near the popular light rail system,” says Jeff Sherman, executive vice president with Colliers International.  “Patio 15 offers…

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Western Window Systems Signs Lease at Airport I-10 Business Park

Cushman & Wakefield announced today that Western Window Systems signed a lease at Airport I-10 Business Park, located at 2200 E. Riverview Street in Phoenix. Cushman & Wakefield Executive Managing Directors Andy Markham, SIOR and Mike Haenel, Senior Vice President Will Strong and Associate Phil Haenel represented the tenant. Phoenix-based Western Window Systems, a leading…

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Kitchell promotes two executives

Kitchell recently promoted Julie Garcia to Director of Preconstruction, and Brian Potter to Chief Estimator. Garcia started her career with Kitchell after graduating from Arizona State University. She has held various roles within the company, most recently as Manager of Preconstruction. She has also served as an estimator and project engineer, primarily focused on Kitchell’s…

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