CBRE Completes Four Phoenix Area Multifamily Transactions Totaling $9 Million in Sales

Phoenix, Ariz. – CBRE completed the sale of four Phoenix-area multifamily properties totaling $9 million.

Estilo, a 15-unit community, located at 3029 N. 38th St. in Phoenix sold for $2.68 million. The property, which was renovated in 2017, offers mostly two-bedroom floorplans averaging 880 square feet. Brian Smuckler, Jeff Seaman and Derek Smigiel with CBRE’s Phoenix office represented the buyer, the Alden E. and Carol M. Seifried Living Trust in the transaction.

Denton is a 28-unit apartment community located at 1623 W. Denton Ln. in Phoenix. Built in 1979 and renovated in 2017, the property offers mostly two-bedroom floorplans averaging 890 square feet. Brian Smuckler, Jeff Seaman and Derek Smigiel with CBRE’s Phoenix office represented the seller and the buyer in the transaction. The Gamboa Family Trusted, based in California, sold the property to 1623 West Denton, LLC, for $2.4 million.

The Wells is an 11-unit contemporary apartment community located in East Phoenix in the Arcadia Lite neighborhood.

The buyer, The Wells Apartment LLC, a Washington investor who obtained new financing, purchased the property for $2.15 million from Trinity Apartments, LLLP. Brian Smuckler, Jeff Seaman and Derek Smigiel with CBRE’s Phoenix office represented the seller and the buyer in the transaction. The property consists of majority two-bedroom floor plans that average approximately 877 square feet.

Parkway, located at 6516 N. 17th Ave in Phoenix, is a 16-unit apartment community featuring majority two-bedroom floorplans averaging 875 square feet. Brian Smuckler, Jeff Seaman and Derek Smigiel with CBRE’s Phoenix office represented the seller and the buyer in the transaction. AWT Partners, LLC, based in Los Angeles, sold the property to Costa Mesa, California-based, Parker Living Trust, for $1.73 million.


About CBRE Group, Inc.

CBRE Group, Inc., 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.

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