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 | Apartment Community Trades for $2.22M near Light Rail in Phoenix's Central Ave Corridor

ABI Press Releases, Arizona, Central Avenue Corridor, John Klocek, Light Rail, Patrick Burch, Phoenix apartment sale, Phoenix Metro, Pierson Palms Apartments

Pierson Palms Apartments | 357 West Pierson Street, Phoenix, AZ 85013 | 20 Units | Built in 1958 | $2,220,000 | $111,000 Per Unit | $133.84 Per SF Pierson Palms Apartments | 357 West Pierson Street, Phoenix, AZ 85013 | 20 Units | Built in 1958 | $2,220,000 | $111,000 Per Unit | $133.84 Per SF


PRESS RELEASE
FOR IMMEDIATE RELEASE
Contact:
Corporate Headquarters
ABI Multifamily
Phone: 602.714.1400
Company Website: www.ABImultifamily.com

Apartment Community Trades for $2.22M near Light Rail in Phoenix's Central Ave Corridor



Phoenix, AZ – September 13, 2017 – ABI Multifamily, the Western US's leading multifamily brokerage and advisory services firm, is pleased to announce the $2,220,000 / $111,000 Per Unit sale of the Person Palms Apartments, a 20-unit apartment community located in Phoenix, Arizona. The property is a two-story apartment community, built of solid block construction in 1958 and rests on 0.87 acres. The property features (6) 1-bedroom, (9) 2-bedroom/1-bath and (5) 3 bedroom/2-bath units with an average size of 829 square feet with each unit individually metered for electricity.

"The property is located less than 1/3 of a mile to two separate light rail stations and is literally minutes from all the major job and development projects occurring along the Central Corridor," states John Klocek, Vice President at ABI who along with, Patrick Burch, represented the Buyer and Seller. "The Buyer saw a great opportunity to purchase a substantially rehabbed project in an area with significant demand."

The Seller was a private investor based in Arizona.

The Buyer was a private investor based in California.

The Phoenix based ABI Multifamily brokerage team of John Klocek, Patrick Burch, Royce Munroe, Ryan Smith and Nathan Bruer represented the Buyer and Seller in this transaction.

ABI Multifamily (http://www.abimultifamily.com) is a brokerage and advisory services firm that focuses exclusively on apartment investment transactions. 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.