Phoenix & Southwest CRE News In Your Inbox.

Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.

Sub Markets

Property Sectors

Topics

Phoenix & Southwest  + Phoenix  + Apartments  | 
Phoenix Senita on Cave Creek sells for $109 million

240-Unit Phoenix Rental Community Sold to Draper and Kramer

The company paid $109 million for the 15-building Senita on Cave Creek apartment community. The unit price of the 240-unit complex comes out to $454,000 per apartment.

Rents start at $1,669 for floor plans that average a 1,000 square feet per unit. The project, which was built in 2018, has maintained a lot of its luster, “With its newer construction and best-in-class amenities, paired with a central location near job opportunities, leisure activities and local attractions, Senita on Cave Creek checks all the boxes in terms of features and lifestyle todays renters are seeking,” said Draper and Kramer’s Jack Bierwirth.

The amenities include a pool with cabanas, 24-hour fitness center, Peloton bikes, pet park and indoor wash station, bike storage and covered parking.

The Chicago-based company owns projects in Dallas, St. Louis and Chicago. This is their first foray into Arizona.

Connect

Inside The Story

Jack Bierwirth

About Mike Boyd

Mike covers our Texas and Phoenix/Southwest regions. He is a veteran news reporter who spent 10 years in radio and television news, mostly in Tucson, Arizona. Following his career in the media, he spent ten years as a communications executive for a publicly traded development company. Mike is married with three boys and three Huskies.

  • ◦Sale/Acquisition
New call-to-action
Money360-23-cube