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Sares-Regis Sells Phoenix Apartment Community for $90M

Alanza Place Apartments in Phoenix traded hands for more than $90 million. The 360-unit multifamily asset was acquired by a group of investors led by Colorado investor Daniel Feiner. The seller was an entity affiliated with Irvine, CA-based Sares-Regis Group.

The 344,194-square-foot property at 1121 N. 44th St. includes eight, three- and four-story buildings. The community sits on 8.6-acres and was built in 2002. It includes 191 one-bedroom units, 161 two-bedrooms and eight three-bedrooms. The property also includes 56 garages and 370 parking spaces.

Berkadia’s Andrew Curtis, Mark Forrester and Dan Cheyne represented the seller. Berkadia also arranged $56,362,000 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.

  • ◦Sale/Acquisition