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Phoenix & Southwest  + Finance  | 

Newly-Built Garden-Style Phoenix MF Goes for Nearly $35M

Elux at Tramonto, a 138-unit garden-style multifamily property in Phoenix, traded hands for $34.7 million. Scottsdale-based Snowdon Partners divested to property to Lodi, CA-based RPM Company.

Berkadia’s Ric Holway, Mark Forrester and Dan Cheyne represented the seller. Berkadia’s David Bleiweiss secured $20.8 million in acquisition financing on behalf of the buyer. The 10-year Freddie Mac loan features a 60% LTV and a 30-year amortization.

Forrester says, “Elux at Tramonto is a newly-built, for-rent, low-density, horizontal community, a niche of the Metro Phoenix multifamily market increasingly desired by many renters.”

The community features one-, two- and three-bedroom floor plans with patios or backyards, stainless steel appliances, in-unit washers and dryers and high-tech amenities. The community has a swimming pool and spa, a select number of detached garages, clubhouse and fitness center.

The property at 35035 N. North Valley Parkway is within the Tramonto master planned community along North Valley Parkway, Interstate 17 and Route 74.

For comments, questions or concerns, please contact Dennis Kaiser

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Connect With RPM CompanyConnect With Snowdon PartnersConnect With Berkadia’s ForresterConnect With Berkadia’s Bleiweiss

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
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