Seattle & Northwest CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Seattle’s Blueprint Capital Buys 18-Unit Townhome in Arizona
CBRE has secured the $13 million purchase of Farmer Avenue Lofts, an 18-unit multifamily complex in Tempe, AZ. Brian Smuckler, Jeff Seaman, Derek Smigiel and Bryson Fricke from CBRE represented the buyer, Blueprint Capital, a Seattle-based REIT.
The property is located on South Farmer Avenue and is comprised of three-bedroom floor plans that average about 2,500 square feet. The units feature granite countertops, Wellborn Milan cabinets, stainless steel appliances and floor-to-ceiling windows.
“We continue to see great interest for multifamily housing in Tempe for out-of-town buyers looking to enter the market,” said Smuckler in a news release. “They are particularly attracted by the area’s growth potential from recent construction of mixed-use developments, the emerging corporate tech footprint and the expansion of Arizona State University.”
CBRE also represented the seller in the transaction, Germany-based Tincath LLC.
- ◦Sale/Acquisition
