The 130-unit Paradise Palms in Phoenix has a revered history. Designed by famous architect Ralph Haver in 1959, the Biltmore submarket icon traded for $36.5 million. Newmark’s Chris Canter represented the seller, Ogden Capital Partners, “Paradise Palms is a unique and spectacular multifamily asset in a Uptown/Biltmore location. This is the perfect asset for the buyer to capture the robust Phoenix rent growth with a more modern interior and exterior renovation.”
The asset offers large floorplans and features amenities such as two pools, storage space and outdoor grilling areas.
Newmark Research notes that Phoenix ranked sixth among major metros in apartment sales volume over the twelve months ending Q1.
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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