Bluerock Real Estate Snags 254-Unit Avenue 25

Bluerock Real Estate LLC struck a deal with Milburn & Co. to acquire Avenue 25, a 254-unit multifamily complex in the Deer Valley submarket of north Phoenix. CBRE’s Tyler Anderson, Sean Cunningham, Asher Gunter and Matt Pesch represented the seller. Rocco Mandala, also with CBRE, arranged financing for the New York City buyer. The sales price was undisclosed.

Situated at 18250 N. 25th Ave., the apartment complex offers one, two- and three-bedroom floorplans. Amenities include a resort-style heated pool with spa and cabanas, fitness center, resident clubhouse with coffee bar and game room, electric car-charging stations, locker system and dog park.

“Avenue 25 is a meticulously-maintained Class A community with an attractive value-add component that created a unique offering in a submarket with solid multifamily fundamentals,” Pesch said.

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