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
Serafina at South Mountain | 11025 South 51st Street, Phoenix, AZ 85044 | 183 Units | $27,450,000 | $150,000 Per Unit | $179.90 Per SF
FOR IMMEDIATE RELEASE
Company Website: www.ABImultifamily.com
Phoenix, Ariz. – March 25, 2019: ABI Multifamily — the Western US’ leading multifamily brokerage and advisory services firm — has announced the $27,450,000 / $150,000 Per Unit / $179.90 Per SF sale of Serafina at South Mountain in Phoenix, Ariz.
Serafina at South Mountain Apartments is a 183-unit garden-style apartment community located south of 51st Street and Elliot Road, situated just off the popular I-10 freeway. This affluent and exclusive Ahwatukee area is home to a variety of recreation, resort and retail opportunities, including The Phoenix South Mountain Park/Preserve.
Built in 1985, Serafina at South Mountain offers an attractive mix of one- and two-bedroom configurations with mature landscaping, resort-inspired amenities and an impressive South Mountain view.
“Serafina at South Mountain offers an outstanding combination of positive features. The acquisition expands Western Wealth Capital’s footprint within the exclusive mountain enclave of Ahwatukee,” said ABI Multifamily Partner Eddie Chang, one of the lead brokers for the team representing the Buyer. “The high-income area, established property, desirable unit mix and potential for renovation all combined to create an excellent value proposition for the Buyer.
“This property is in very close proximity to the Buyer’s other apartment holdings, and they focus on enhancing communities to their full potential,” said ABI Multifamily Senior Managing Partner Alon Shnitzer, one of the lead brokers for the team representing the Buyer. “The Seller had held this property for more than 12 years, and the Buyer recognized the strength of this location and its full potential. It was an ideal purchase for the buying entity, which happens to also be the third-largest owner of apartments in the Phoenix MSA.”
The Buyer, Western Wealth Capital, is a Canada-based private partnership. The Seller is a private investor partnership based in California.
The Buyer was represented by the multifamily brokerage team of Eddie Chang, Doug Lazovick, Alon Shnitzer, John Kobierowski and Rue Bax.
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.