Phoenix, Ariz. – CBRE brokered the sale of San Melia, a 488-unit luxury multifamily community, located at 14435 S. 48th St. in Phoenix. Tyler Anderson, Sean Cunningham, Asher Gunter and Matt Pesch with CBRE Multifamily Institutional Properties in Phoenix represented the institutional seller, ChrisKen Group out of Chicago.
Renovated in 2017, the Mark Taylor-built property consists of 488 units situated on 28 acres in Phoenix’s highly desirable Ahwatukee Foothills neighborhood. The property features large one-, two- and three-bedroom floorplans across all two-story buildings. Community amenities include a resort-style pool with walk-in beach entry, poolside cabanas, two sand volleyball courts, an expanded fitness center with outdoor yoga patio, and dog park with grooming station.
San Melia is located off I-10 and Ray Road, adjacent to more than 2.4 million square feet of retail, dining and entertainment options. The property also has access to top-rated school districts, master-planned residential communities and outdoor recreational activities at South Mountain Park, the nation’s largest municipal park. Major employement centers are also located nearby including the Intel campus in Chandler and the ASU Research Park.
“Ahwatukee continues to be one of Phoenix’s most sought-after submarkets with immediate freeway access, desirable amenities catering to suburban families and strong educational and retail sectors. Additionally, San Melia’s mix of spacious, well-appointed units with high-end finishes made it an attractive investment opportunity with continued upside potential,” said CBRE’s Gunter.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2017 revenue). The company has more than 80,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.