As we all navigate these unprecedented and challenging times, we want you to know that we are working hard to maintain effective business operations and open channels of communication with all of our clients. Fortunately, we utilize and rely on technology as the backbone of operations for ABI. Our digital systems and virtual communications capabilities have allowed us to seamlessly and efficiently transition to a mostly remote working model. We are operating with our full capabilities and continue to provide the responsive and timely feedback we are known for.
Our team remains fully committed to providing our expertise in brokerage and advisory services, and serving as a resource for all relevant data and information. We will continue to help multifamily stakeholders make sound decisions in real-time, maintain maximum performance of their investment assets, and synthesize immediate, short, and long-term goals throughout this highly unusual time.
Quite simply - WE ARE HERE FOR YOU - in the best of times and the worst of times. Our seasoned advisors have been through it all. In our business, rents and occupancy are the pillars to stability. We are tracking both and can help you stay ahead of the changes in your submarkets.
It is time to think and act fast so reach out to one of our brokers over the phone or email. At the very least, you will enjoy a good conversation during these socially distant moments. We are all in this together. Here’s to strong health and rapid resolutions to the variety of challenges we collectively face. More power to all of you!
- The Team at ABI Multifamily
Tempe Terrace | 1130 East Orange Street, Tempe, AZ 85281 | 39 Units | $5,460,000 | $140,000 Per Unit | $169.71 Per SF
FOR IMMEDIATE RELEASE
Company Website: www.ABImultifamily.com
Phoenix, Ariz. – May 17, 2019: ABI Multifamily – the Western US’ leading multifamily brokerage and advisory services firm – has announced the $5,460,000, $140,000/unit, $169.71/SF closing of Tempe Terrace Apartments in Tempe, Ariz.
The 39-unit garden-style community — located at 1130 E. Orange St. — sits ½ mile from the nearest Light Rail Station and 0.8 miles from Arizona State University’s Tempe Campus. ABI Multifamily VP Royce Munroe represented the Seller, an Arizona-based private investor, and Associates Dallin Hammond and Mitchell Drake represented the Buyer, a private investor from California.
“The Seller purchased Tempe Terrace Apartments in 1991, and it has been a solidly performing asset across its life, particularly given the growth and development that has transformed the area over the years,” Munroe said.
“Tempe Terrace Apartments presented an irresistible opportunity for the Buyer,” Hammond said. “As a legacy community in such a well-served and incredibly dynamic growth area, the value-add potential is exceptional and offers a full range of both near- and long-term opportunities.”
ABI Multifamily (http://www.abimultifamily.com/) is a brokerage and advisory services firm that focuses exclusively on apartment investment transactions. With offices in Phoenix, Tucson, Sacramento and San Diego, the experienced advisors at ABI Multifamily have completed billions of dollars in sales and thousands of individual multifamily transactions. ABI Multifamily incorporates a global approach with regional real estate expertise to successfully complete any multifamily transaction, regardless of size and complexity.