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
Cabana at the Pointe Apartments | 1829 East Morten Avenue, Phoenix, AZ 85020 | 180 Units | $22,200,000 | $123,333 Per Unit | $194.81 Per SF
FOR IMMEDIATE RELEASE
Company Website: www.ABImultifamily.com
Phoenix, Ariz. – March 22, 2019: ABI Multifamily — the Western US’ leading multifamily brokerage and advisory services firm — has announced the $22,200,000 / $123,333 Per Unit / $194.81 Per SF sale of Cabana at the Pointe Apartments in Phoenix, Ariz.
Cabana at the Pointe is a 180-unit garden-style apartment community located off SR 51 near the Pointe Hilton Resort. The highly desirable North Central Phoenix neighborhood is surrounded by a luxury resort and highly established residential community near the Dreamy Draw Recreation area, and is just minutes from 7th Street’s Restaurant Row and the Central Phoenix employment corridor.
Completed in 1980 and renovated in 2013, Cabana at the Pointe features wood-style flooring; newer, granite-looking countertops; wood cabinetry and a colorful, tasteful exterior and common area amenities package.
“Cabana at the Pointe represented an exceptional example of a repositioning and renovation play in the Phoenix market, with the foresight to know which location would improve over a relatively short period of time,” said ABI Multifamily Senior Managing Partner Alon Shnitzer, lead broker for the team representing the Seller. “The attractive existing property condition, location and established character of the iconic neighborhood offered an exceptional value and appeal for the Buyer and for both existing and prospective tenants.”
The Buyer is a Colorado-based private investor. The Seller is an investment partnership based in Arizona.
The Seller was represented by the multifamily brokerage team of Alon Shnitzer, John Kobierowski, Rue Bax, Eddie Chang and Doug Lazovick.
ABI Multifamily (https://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.