Sub Markets

Property Sectors

Topics

Phoenix & Southwest CRE News In Your Inbox.

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

Phoenix & Southwest  + Finance  | 

Boston Investor Enters PHX Market, Snags East Camelback MF for $26M

Boston-based Taurus Investment Holdings, LLC acquired Avenel on 16th Apartments from Phoenix-based Rincon Partners for $25,950,000. The recently repositioned property is located near 16th Street and Indian School Road in the East Camelback/Uptown Phoenix submarket.

Taurus’ Peter A. Merrigan says, “The purchase of Avenel on 16th represents Taurus’ confidence in the prospects for this region. This investment is a fantastic opportunity for us to participate in the continued transformation and future development of a premier submarket at a price that is a significant discount to replacement cost.”

The 200-unit apartment community was built in 1980 and 1984 and comprises 14% studios, 69% one-bedroom units, and 17% two-bedroom units.

NorthMarq’s Trevor Koskovich, Jesse Hudson and Bill Hahn brokered the sale and represented both buyer and seller in the transaction. Financing for the acquisition included an $18,790,000 Freddie Mac loan, which was arranged by NorthMarq’s Bryan Mummaw.

For comments, questions or concerns, please contact Dennis Kaiser

Connect

Inside The Story

Connect With Taurus’ MerriganConnect With Rincon PartnersConnect With NorthMarq’s Koskovich

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
New call-to-action