2021 Lawyers in Real Estate Awards
Last year, the Connect CRE team followed up our well-received Next Generation Awards and Women in Real Estate Awards with the inaugural Lawyers in Real Estate Awards. For...
2021 Women in Real Estate
Announcing the 2021 Winners for the Connect CRE Women in Real Estate Awards.
From hundreds of submissions, we have highlighted women with achievements and...
2021 Next Generation Awards
Connect Commercial Real Estate is proud to present the winners of our 2021 Next Generation Awards. In one of the most challenging years on record for the industry,...
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The metro Phoenix area continues to experience pent-up multifamily investment demand from both local and out-of-state capital due to robust employment growth, net in-migration and strong market fundamentals, according to CBRE research. One recent acquisition exemplifies that trend.
A 135-unit multifamily property, The Flats at Granite Reef located in Scottsdale, sold to Girard Flats LLC for $17.5 million. The buyer was a private partnership completing a 1031-exchange. The partnership acquired the property by assuming the first and second loans with a combined amount of approximately $10.5 million.
Located at 980 North Granite Reef Rd., the property features one- and two-bedroom apartments. Common amenities include a pool, game room, laundry facilities, courtyard and clubhouse.
Brian Smuckler, Jeff Seaman, Derek Smigiel and Bryson Fricke of CBRE represented the California-based seller and the buyer.
“The Scottsdale submarket has extremely high barriers to entry especially for low-density single-story assets,” said Seaman. “The buyer is planning an extensive rehab program which includes updating the interiors, improving the common area amenities, and repositioning and rebranding the community.”
Lisa Brown has decades of experience in corporate communications and marketing management with organizations including Coldwell Banker Residential, Grubb & Ellis, Marcus & Millichap, NAIOP, SIOR and ALM.
In those positions, she worked in conjunction with chief executive officers and chief marketing officers to create corporate messaging, cohesive branding standards, strategic marketing plans and thought pieces. Brown is a frequent speaker at industry events and an editing adjunct professor for an online course. She has a master’s degree in mass communications from San Jose State University.