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Phoenix & Southwest  + Apartments  | 

Dallas Investor Picks Up Phoenix MF for $110M

Dallas-based Knightvest Capital acquired the 768-unit Red Mountain Villas apartments in Phoenix for $110 million. The commercial real estate property was sold by Peaks at Papago Apartments LLC, an affiliate of Kirkland, WA-based Weidner Apartment Homes.

The purchase price was one of the largest multifamily deals recently recorded in the market, and the buyer’s second Arizona investment. The high water mark is Priderock Capital Partners LLC’s $125.5 million acquisition of The Heritage at Deer Valley in Phoenix.

The Red Mountain Villas is located at 815 N. 52nd St., and was acquired with a $93.039 million Fannie Mae loan issued by Berkadia Commercial Mortgage LLC. The complex was developed in three phases in 1987, 1988 and 1996.

Marcus & Millichap’s Steve Gebing and Cliff David brokered the deal.

For comments, questions or concerns, please contact Dennis Kaiser

Connect

Inside The Story

Read more at BREWConnect With Knightvest CapitalConnect With Marcus & Millichap’s Gebing

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.

  • ◦Sale/Acquisition
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