Arizona

PHOENIX — Newmark Knight Frank Multifamily has arranged the sale of Cabana at the Pointe, a garden-style community located at 1829 E. Morten Ave. in central Phoenix. Colorado-based JM Logan LLC acquired the property from Arizona-based Cornerstone – Deco Cabana Pointe LLC for $22.2 million. Brad Goff, Brett Polachek and Chris Canter of Newmark Knight Frank Multifamily represented the buyer in the deal. Constructed in 1980 and last renovated in 2013, the property features 180 apartments in a mix of studio, one- and two-bedroom layouts with patios/balconies, ceiling fans, walk-in closets and newer appliances. Community amenities include a resort-style pool, outdoor fire pit, fitness center, bike storage area, two laundry facilities and a dog park.

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.