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Phoenix & Southwest  + Finance  | 

Western Wealth Cuts $117.5M Deal with Bridge for Tempe MF

Canadian investor Western Wealth Capital acquired Onnix Apartments, a 659-unit multifamily property in Tempe for $117,500,000. The seller was Salt Lake City-based Bridge Investment Group Partners. The 1997-built community sits on nearly 30 acres at 1500 E. Broadway Rd.

The property includes studios, one- and two-bedroom units that have been recently updated. Amenities include a tennis court, two clubhouses, four pools, adult sports courts, a virtual yoga studio, dog park and 1,340 parking spaces. The community is student, pet, and family-friendly, and located near Arizona State University, Tempe Marketplace, and the Mill Avenue Corridor.

IPA Arizona’s Cliff David and Steve Gebing handled the transaction. Prudential Real Estate provided $79,275,000 in new debt. The property was previously broken out as individual condominiums.

David says, “Onnix’s low-density construction gives it the flexibility to be bifurcated into a potential 375-unit Onnix West and an Onnix East of 284 units.”

For comments, questions or concerns, please contact Dennis Kaiser

*Photo courtesy Bridge Investment Group

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About Dennis Kaiser

Dennis Kaiser is Vice President of Public Relations and Communications for Connect Creative. Dennis is a communications leader with more than 40 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect Creative’s agency client services and is involved in a range of initiatives ranging from public relations and content strategy, communications and message development, copywriting, media relations, social media and content marketing services. Prior to joining Connect Media in 2015, his most recent corporate communications roles involved leading a regional public relations effort across Southern California for CBRE, playing a key marketing role on JLL’s national retail team, and directing the global public relations effort at ValleyCrest (BrightView), the nation’s largest commercial landscape services company. He has worked on marketing communications assignments for such CRE companies as Blackstone/Equity Office, Carlyle, Caruso, Disney Resorts, GE Capital, Irvine Company, Hines, Howard Hughes Corp., Jeffries, Lennar, MGM, Marcus & Millichap, Prologis, Raleigh Studios, Simon, Starwood, Trammell Crow Company, Transamerica, UBS and Wynn Resorts. Dennis has also worked on communications and launch strategies for a number of consumer electronic, media and tech brands including SlingMedia, Channel Master, Deluxe Media Entertainment, BeIn Sports, EchoStar and Sprint. Dennis’s agency background included firms such as Off Madison Ave., Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, Boy Scouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and the Thunderbirds Charities.

  • ◦Financing
  • ◦Sale/Acquisition
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