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 $13M Apartment Sale near ASU in Tempe for Los Angeles based MJW Investments & Tides Equities

ABI Press Releases, apartment sale, Arizona, ASU, multifamily investments, Phoenix Metro, Phoenix Metro, Phoenix MSA, Tempe

ReNue on Orange Pic

PRESS RELEASE
FOR IMMEDIATE RELEASE

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

ABI Brokers $13M Apartment Sale near ASU in Tempe for Los Angeles based MJW Investments & Tides Equities



Phoenix, AZ – April 3, 2018 – ABI Multifamily, the Western US's leading multifamily brokerage and advisory services firm, is pleased to announce the $13,000,000 / $118,182 Per Unit sale of the ReNue on Orange Apartments located in Tempe, Arizona. Built in 1968, and substantially rehabbed in 2015/16, ReNue is a two and three story, garden-style apartment community that features 110 units in 5 rental buildings of masonry/block construction and master metered for electricity and water. The property has pitched roofs and rests on approximately 2.81-acres. The unit mix consists of (52) one-bedroom / one-bathroom units and (58) two-bedroom / two-bathroom units, with a weighted average size of 896 square feet.

"ReNue is located near both ASU/Downtown Tempe and the Dorsey/Apache Blvd Light Rail stop," states Eddie Chang, Partner at ABI, and lead broker for the buyer in this transaction along with Doug Lazovick, Partner, and Ryan Smith, Senior Vice President. "Tempe has witnessed amazing growth since 2010. First, ASU has continued its expansion and recently crested 100,000+ students. Second, according to Phoenix-based U-Haul, Tempe was America's No. 1 Growth City in 2017. Lastly, Tempe was recently named as the top office market in the country. Given the strong market fundamentals, the buyer MJW Investments & Tides Equities, experienced student housing & value add investors, plans to create value through additional interior/exterior renovations in addition to increasing the bed count to the oversized units."

The buyer, MJW Investments, Inc, & Tide Equities, LLC are private investment firms based in California.

The seller, ReNue Properties, is a private investment firm based in Arizona.

The multifamily brokerage team of Eddie Chang, Doug Lazovick, Ryan Smith, John Kobierowski, Alon Shnitzer and Rue Bax represented the buyer in this transaction.

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.