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
Palm Aire Apartments | 6241 North 27th Avenue, Phoenix, AZ 85017 | 186 Units | Built in 1982 | $14,650,000 | $78,763 Per Unit | $104.18 Per SF
FOR IMMEDIATE RELEASE
Company Website: www.ABImultifamily.com
Phoenix, AZ – September 19, 2018 – ABI Multifamily, the leading multifamily brokerage and advisory services firm in the Western U.S., is pleased to announce the $14,650,000 / $78,763 per unit sale of the Palm Aire Apartments located in Phoenix, Arizona. Completed in 1982, the property features a mix of 1- and 2-bedroom unit types, with a weighted average unit size of approximately 756 square feet. Palm Aire sits on approximately 5.05 acres of land, with 12 building structures, a dedicated leasing center and is individually metered for electricity. Additional property features include a laundry rooms, pool, BBQ/picnic area and playground.
“The property is located in the Northwest Phoenix Submarket a little over one mile north of Grand Canyon University (GCU) and just minutes to I-17. The proximity to GCU, combined with the 50 percent one bedroom & 50 percent two bedroom unit mix as well as washer/dryer hookups in every unit made the asset extremely desirable,” states Doug Lazovick, Partner, who was the lead broker representing the seller in the transaction.
The buyer is a private investor based in California.
The seller is an experienced multifamily investment company based in Colorado.
The multifamily brokerage team of Doug Lazovick, John Kobierowski, Alon Shnitzer, Rue Bax and Eddie Chang represented the seller in this transaction.
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.