Knightvest, ColRich Ink Deal on Phoenix Rental Community

Knightvest has sold a Phoenix rental property for $62.3 million. ColRich purchased the 292-unit downtown multifamily community.

Built in 2016, Mason Oliver is comprised of two stand-alone podium buildings separated by one block. Each building offers a full suite of amenities, including two swimming pools and spa areas with barbecue grills, two fully equipped fitness centers, two resident clubhouses and two leasing centers. Light rail is nearby.

ColRich owns 12 multifamily communities throughout metro Phoenix. Since its founding in 2007, Knightvest Capital has invested over $10 billion to acquire over 55,000 units across high-growth metro areas in Texas, Arizona, the Carolinas, and Florida.

CBRE’s Matt Pesch, Asher Gunter, Sean Cunningham and Austin Groen represented Knightvest. Trevor Breaux and Troy Tegeler with CBRE’s Debt & Structured Finance practice arranged financing for the buyer.

Phoenix is one of the top markets in the country for multifamily demand, posting 15,400 units of absorption through June 2025, the third-highest year-to-date absorption total of all U.S metros, according to data analyzed by CBRE.