Phoenix & Southwest CRE News In Your Inbox.

Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.

Sub Markets

Property Sectors

Topics

Phoenix & Southwest  + Phoenix  + Apartments  | 
Two infill Phoenix apartments sell for $15.68 million

Two Camelback Corridor Multifamily Properties Sell for $15.68 Million

The 30-unit Olive Gardens and 25-Unit Village 28 sold separately. A CBRE team led by Derek Smigiel represented the buyer for both properties, “There is a tremendous demand for infill value-add and stabilized multifamily opportunities in Metro Phoenix. The growing economic corridors, quality of life and increasing net migration are factors driving demand in core locations.”

The Olive Gardens on North 12th Place consists of two bedroom units situated centrally in Phoenix, near the Camelback Corridor. It features a swimming pool and covered parking. Neighborhood Ventures was the buyer, Momentum Property Investments the seller.

Village 28 is also located in the city core. It’s a seven-building property also with a two-unit floorplan, also with a pool and covered parking. The buyer was Blueprint Capital Services from Washington state. The seller was a private local investor.

Connect

Inside The Story

Derek Smigiel

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.

  • ◦Sale/Acquisition
New call-to-action
AshcroftCapital-07-cube
NewPoint-07-cube