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 $59M Sale of Alta Fillmore in Downtown Phoenix

ABI Press Releases, Alta Fillmore, Arizona, Central Phoenix, Downtown Phoenix apartment sale, multifamily investment sale, Phoenix Metro, Pure Multi-Family REIT, Rue Bax, Wood Partners

Alta Fillmore Apartments | 601 West Fillmore Street, Phoenix, AZ 85007 | 230 Units | Built in 2016 | $59,000,000 | $256,522 Per Unit | $274.72 Per SF Alta Fillmore Apartments | 601 West Fillmore Street, Phoenix, AZ 85007 | 230 Units | Built in 2016 | $59,000,000 | $256,522 Per Unit | $274.72 Per SF

PRESS RELEASE
FOR IMMEDIATE RELEASE

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

ABI Brokers $59M Sale of Alta Fillmore in Downtown Phoenix



Phoenix, AZ – November 30, 2017 – ABI Multifamily, the Western US's leading multifamily brokerage and advisory services firm, is pleased to announce the $59,000,000 / $256,522 Per Unit sale of the Alta Fillmore Apartments located in Phoenix, Arizona. Developed by Wood Partners, Alta Fillmore is a five story, midrise-style apartment community located in Downtown Phoenix and rests on approximately 4.01 acres. The property was built in 2016 of frame construction with flat roofs and individually metered for electricity. The property boasts an attractive unit mix of 141 - 1 bedroom, 84 - 2 bedroom and 5 – 3 bedroom unit types with a weighted average size of 934 square feet.

"Alta Fillmore offered the buyer, Canada-based Pure Multi-Family REIT, a number of strategic advantages," states Rue Bax, Senior Managing Partner, lead broker for this transaction who represented both the Buyer and Seller. "First, Pure Multi-Family was seeking an Institutional Grade, Class A property in the US Sunbelt (Arizona and Texas). Second, the Buyer sees Downtown Phoenix as a strong performing submarket, within the Greater Phoenix area as a whole, especially in light of the significant population and job growth the area has witnessed since 2010. The property is located a few blocks west of Downtown Phoenix's jobs corridor along Central Avenue, connected via Light Rail, and ASU's downtown campus. Since 2013, the area has witnessed thousands of new job announcements, the most recent of which Quicken Loans announced it would be moving 1,100+ employees to the One North Central Building."

Downtown Phoenix boasts the highest concentrations of employment in Arizona, in fact, over the past decade the area has witnessed over $4.7 billion of both private and public investment led by the $1.7 billion Metro Light Rail system with Downtown serving as its central hub. Other major economic drivers include: ASU Downtown Phoenix campus which is now home to more than 12,000 students and the Phoenix Biomedical Campus (PBC), a 30-acre urban research park in the heart of downtown with an annual economic impact of more than $1.3 billion.

The Buyer, Pure Multi-Family, is a Canadian based, publically traded REIT.

The Seller, Wood Partners, is a private investment/development company based in Georgia.

The multifamily brokerage team of Rue Bax, John Kobierowski, Alon Shnitzer, Eddie Chang 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.