Arizona

TEMPE, ARIZ. — San Francisco-based Tara Investment Group has purchased Studio 710, an apartment community located at 710 Hardy Drive in Tempe. Domain Communities sold the property for $26.7 million. Brad Cooke and Cindy Cooke of Colliers International represented the seller, while the buyer was self-represented in the deal. Built in 1975, Studio 710 features 239 apartments spread across 12 buildings totaling 98,500 square feet. Community amenities include two resort-style pools with cabanas, free Wi-Fi, fitness studio, outdoor jogging track, outdoor gathering areas, fire pits, outdoor yoga/Zen space, bike racks and entertainment areas.

MESA, ARIZ. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale of The Premiere at Dana Park, an apartment community located in Mesa. PCS Development sold the property to an undisclosed buyer for $41.9 million, or $211,869 per unit. Completed in 2018, The Premiere at Dana Park features 198 apartment units within walking distance of Village Square at Dana Park, a 365,000-square-foot urban lifestyle center. Steve Gebing and Cliff David of IPA represented the seller in the deal.

PHOENIX — FSC Realty has purchased Alta Midtown, a multifamily community located in midtown Phoenix. Wood Partners sold the asset for $52 million, or $231,111 per unit. Developed in 2017, Alta Midtown features 225 apartments with contemporary interiors and nine-foot or taller ceilings. Community amenities include a resort-inspired pool and spa, rooftop lounge and on-site beer garden. Steve Gebing and Cliff David of Institutional Property Advisors, a division of Marcus & Millichap, represented the seller and procured the buyer in the transaction.

PHOENIX — Cushman & Wakefield has negotiated the sale of Broadstone Roosevelt Row, a multifamily property located at 330 E. Roosevelt St. in Phoenix. AZ Roosevelt Row Apartments LLC, an entity formed by Kirkland, Wash.-based Weidner Investment Services, purchased the apartment community for $84.2 million. Situated in downtown Phoenix’s Roosevelt Row Arts District, the community features 316 units in a mix of studio, one-, two- and three-bedroom floor plans with an average unit size of 865 square feet. Each apartment offers gourmet kitchens with gas cooktops, Energy Star GE stainless steel appliances, quartz countertops, wood-style flooring, front-load washers/dryers, USB-charging outlets and Nest thermostats. Additionally, select units feature 19-foot ceilings, wine refrigerators, walk-in closets, Sonos sound systems and personal balconies or patios. Community amenities include a pool and spa with private cabanas, a fitness facility with an outdoor yoga lawn, furnished rooftop deck with fire pits and barbecues, complimentary resident beach cruisers and a smartphone resident-access system, as well as a two-story clubhouse with chef’s kitchen, coffee bar, oversized television and classic arcades and billiard games. David Fogler and Steven Nicoluzakis of Cushman & Wakefield represented the undisclosed seller in the deal.