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PHOENIX — Northmarq has arranged the sale of U@19th, a real estate owned (REO) multifamily property in midtown Phoenix. BrightSpire Capital sold the asset to The Eiders Co. for $36 million. Jesse Hudson, Trevor Koskovich, Ryan Boyle and Logan Baca of Northmarq represented the seller in the transaction.
Built in 1973 and renovated in 2024, U@19th features 236 one-, two- and three-bedroom apartments averaging 875 square feet. The recent renovations include extensive exterior upgrades and partially completed interior updates, including stainless steel appliances, wood-inspired flooring, resurfaced quartz countertops, new white cabinet fronts with chrome pull handles, subway tile backsplash and upgraded hardware, lighting and paint.