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Phoenix & Southwest  + Phoenix  + Apartments  | 
lydian Phoenix TDS

Phoenix Adds to Nation’s Highest Multifamily Sales Volume

Transwestern Development Company (TDC) sold its 209-unit Lydian complex for $66 million. Knightvest Capital purchased the property in what amounted to a unit cost of $313,400 per. TDC’s Brendan O’Leary expected a premium, “Phoenix remains one of the healthiest multifamily markets in the nation. High levels of in-migration and a diverse economy continue to drive investor interest. Lydian’s sales price is a testament to the demand.”

At year-end 2021, Phoenix reported the nation’s highest multifamily sale volume of any city, $14.5 billion, averaging $203,873 a unit.

TDC has another multifamily project under construction in Phoenix, a 200-unit project at 651 E.6th St. It’s expected to open for business at year-end 2023. Nationwide, TDC has 10 multifamily projects, totaling 2,529 units, under construction.

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Inside The Story

Brendan O'Leary

About Mike Boyd

Mike covers our Texas and Phoenix/Southwest regions. He is a veteran news reporter who spent 10 years in radio and television news, mostly in Tucson, Arizona. Following his career in the media, he spent ten years as a communications executive for a publicly traded development company. Mike is married with three boys and three Huskies.

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