COVID-19 Statement from ABI Multifamily

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

Press Release | ABI Brokers 2nd Largest Apartment Complex (312 Units) in Yuma, AZ for $19.5M

ABI Press Releases, Alon Shnitzer, apartment sale, Arizona, Eddie Chang, multifamily investments, Rue Bax, Yuma MSA

Rio Santa Fe Apartments | 1600 West 12th Street, Yuma, AZ 85364 | 312 Units | Built in 1990 | $19,500,000 | $62,500 Per Unit | $69.63 Per SF Rio Santa Fe Apartments | 1600 West 12th Street, Yuma, AZ 85364 | 312 Units | Built in 1990 | $19,500,000 | $62,500 Per Unit | $69.63 Per SF


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ABI Brokers 2nd Largest Apartment Complex (312 Units) in Yuma, AZ for $19.5M

Phoenix, AZ – March 19, 2018 – ABI Multifamily, the Western US's leading multifamily brokerage and advisory services firm, is pleased to announce the $19,500,000 / $62,500 Per Unit sale of the Rio Santa Fe Apartments located in Yuma, Arizona. Rio Santa Fe Apartments is a 312-unit garden-style apartment community located in Yuma, AZ. The property is of 1990 vintage, built of wood frame and stucco. The unit mix consists of 64 one-bedroom / one-bath units, 108 two-bedroom / two-bath units, and 140 three-bedroom / two-bath units, with a weighted average size of 898 square feet. Each unit is individually metered for electricity and equipped with full-size kitchen appliances including a dishwasher, garbage disposal, and range / oven, as well as spacious walk-in closets, large picture windows, 10-foot ceilings, ceiling fans, and air conditioning. Select units offer full-size washer / dryer connections, balcony / patio, breakfast bar, and /or storage space. The community also provides its residents with two laundry facilities, two swimming pools, a clubhouse with full kitchen, and multi-use sport court.

"Rio Santa Fe Apartments is located near I-8/SR-95 interchange, which connects the area to San Diego and Phoenix," states Alon Shnitzer, Senior Managing Partner at ABI, who along with Rue Bax and Eddie Chang were the lead brokers for this transaction. "The property is the 2nd largest, by number of units, in the city of Yuma and was well maintained and operated by the selling entity for the duration of their 20+ year hold."

"Yuma is most assuredly changing," states Eddie Chang, Partner at ABI, "Although everyone points to Bill Gates' related entity purchase of property in Phoenix's West Valley for the development of a ‘smart city,' Yuma announced its own Smart City Plan in November 2017. Essentially, Yuma allowed technology company, anyComm and Siemens Industry, to begin the installation of nodes to be installed on the top of every streetlight in the city to create community wide high-speed broadband connectivity. The data received is then funneled and used for Internet of Things (IoT) type applications. This has the potential to be a major game-changer, not only for the city by way of added technology/development jobs but also nationally."

The Buyer is a private multifamily investor based in Arizona.

The Seller, a partnership formed by Paul Ash Management Company, based in Tucson, AZ, is a private multifamily investor, developer and property manager based in Arizona.

The multifamily brokerage team of Eddie Chang, Alon Shnitzer, Rue Bax, John Kobierowski and Doug Lazovick represented both the Buyer and Seller in this transation.

ABI Multifamily is a brokerage and advisory services firm that focuses exclusively on apartment investment transactions. With offices in Phoenix, Tucson 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.