COVID-19 Statement from ABI Multifamily -- March 24, 2020

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 Multifamily Brokers $6M Bulk Condo Sale for Canada-based Western Wealth Capital in Phoenix's Midtown Melrose District

ABI Press Releases, Arizona, bulk condo, fractured condo multifamily sale, Melrose District, midtown Phoenix, Phoenix Metro, Phoenix MSA apartments, Skyline Companies, Western Wealth Capital

Solterra on Fifth Avenue Condominiums | 4350 North 5th Avenue, Phoenix, AZ 85013 | 41 (of 60) Units | Built: 2006 | $6,000,000 | $146,341/Unit | $173.98/SF Solterra on Fifth Avenue Condominiums | 4350 North 5th Avenue, Phoenix, AZ 85013 | 41 (of 60) Units | Built: 2006 | $6,000,000 | $146,341/Unit | $173.98/SF

PRESS RELEASE
FOR IMMEDIATE RELEASE

Contact:
Corporate Headquarters
ABI Multifamily
Phone: 602.714.1400
Company Website: www.ABImultifamily.com

ABI Multifamily Brokers $6M Bulk Condo Sale for Canada-based Western Wealth Capital in Phoenix's Midtown Melrose District



Phoenix, AZ – March 6, 2018 – ABI Multifamily, the Western US's leading multifamily brokerage and advisory services firm, is pleased to announce the $6,000,000 / $146,341 Per Unit sale of the 41-unit (of 60), Solterra on Fifth Condominiums in Phoenix, AZ. Solterra, originally built in 2006, features spacious 1 and 2-bedroom units with a weighted average size of approximately 841 square feet.

"Western Wealth Capital acquired the property several years ago having been attracted to the ‘A' class asset's up-and-coming location. With the numerous new developments and planned construction, the Seller's instincts on the area's transformation have been proven correct," states Eddie Chang, Partner at ABI, who along with Doug Lazovick, Partner at ABI, were the lead brokers in the transaction.

The Solterra on Fifth Avenue Condominiums are located in Midtown Phoenix off 7th Avenue and Turney Avenue in the trendy Melrose District. The property is just minutes from hiking and dining hotpots along the famed-interior arterials of 7th Street, Central Avenue and 7th Avenue, as well as, SR-51. Solterra is a gated community that sits on 1.98-acres of land, with (2) three-story buildings and features a community pool, elevators and view of the Phoenix skyline.

The Buyer, Skyline Companies, is a private investment firm based in Arizona.

The Seller, Western Wealth Capital, is private investment firm based in Canada.

The Phoenix based ABI Multifamily brokerage team of Eddie Chang, Doug Lazovick, John Kobierowski, Alon Shnitzer and Rue Bax represented the Seller in the transaction. Samir Sawhney of XCD Realty & Property management represented the Buyer.

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.