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Phoenix & Southwest  + Finance  | 

Sares-Regis Sells Ahwatukee MF for $65M

Salt Lake City-based Millburn & Company acquired Allegro at Foothills Gateway, a 264-unit apartment complex in Phoenix from Newport Beach, CA-based Sares-Regis Group for $65.1 million. The property at 4411 E. Chandler Blvd. is within the Ahwatukee submarket and encompasses 18 buildings totaling more than 234,000 square feet.

The two-story buildings were built in 1996 and are spread across nearly 13 acres at 40th St. and Chandler Blvd. The floorplan mix includes 102 one-bedroom/one-bath units, 30 two-bedroom/one-baths, 120 two-bedroom/two-baths, and 12 three-bedroom/two-baths with in-unit washers and dryers.

The community has two pools, a spa, poolside ramadas and barbeques, a clubhouse, fitness center, business center, picnic areas and garages within a gated community environment.

CBRE Capital Markets arranged $41,910,000 in new Freddie Mac debt for the deal.

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About Dennis Kaiser

Dennis Kaiser is Vice President of Content and Public Relations for Connect Commercial Real Estate. Dennis is a communications leader with more than 30 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect’s client content operations and is involved in a range of initiatives ranging from content strategy, message development, copywriting, media relations, social media and content marketing services. In his most recent corporate communications roles, he led a regional public relations effort across Southern California for CBRE, played a key marketing role on JLL’s national retail team, and was responsible for directing the global public relations effort at ValleyCrest, the nation’s largest commercial landscape services company. In addition to his vast commercial real estate experience, Dennis has worked on communications and launch strategies for a number of residential projects such as Disney’s Celebration in Florida, Ritter Ranch in Palmdale California (7,200 homes, 22,000 acres), WaterColor in Florida and PremierGarage in Phoenix. Dennis’s agency background included firms such as 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, BoyScouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and Thunderbirds Charities.

  • ◦Financing
  • ◦Sale/Acquisition