Arizona

Embrey Sells 266-Unit Multifamily Property in Scottsdale, Arizona for $110M

by Amy Works November 10, 2025

SCOTTSDALE, ARIZ. — Embrey has completed the disposition of The Quincy at Kierland, an apartment community in Scottsdale, to Stockdale Capital Partners for $110 million, or $414,474 per unit. Steve Gebing and Cliff David of Institutional Property Advisors (IPA), a division of Marcus & Millichap, represented the seller and procured the buyer in the deal. Completed in 2024, The Quincy at Kierland offers 266 apartments with high ceilings, engineered hardwood flooring, separate laundry rooms and smart-home technology. Community amenities include a centralized courtyard with a swimming pool and spa and a fitness center with indoor and outdoor accessibility.

November 10, 2025

Acquisitions Arizona Loans Multifamily Western

CBRE Secures $45.6M in Acquisition Financing for Coral Point Apartments in Mesa, Arizona

by Amy Works November 7, 2025

MESA, ARIZ. — CBRE has arranged $45.6 million in financing on behalf of InTrust Property Group for the acquisition and renovation of Coral Point Apartments in Mesa. Shaun Moothart, Doug Birrell, Bruce Francis, Bob Ybarra, Nick Santangelo, Anna Britt and Amber Coleman of CBRE secured the three-year, floating-rate loan, which features full-term interest-only payments and two extension options. Brightspire Capital was the lender. Situated on 15.9 acres, Coral Point comprises 24 two-story buildings offering a total of 377 apartments. Community amenities include three swimming pools, two spas, a clubhouse and business center, a fitness center, outdoor barbecue areas and a play area. The sponsor’s value-add strategy includes plans to install washers and dryers in every unit, refresh exteriors and activate amenities.

November 7, 2025

Acquisitions Arizona Multifamily Seniors Housing Western

DEM Purchases 55 Resort Scottsdale Active Adult Property in Arizona for $32.7M

by Amy Works November 7, 2025

SCOTTSDALE, ARIZ. — Los Angeles-based DEM Inc. has purchased 55 Resort Scottsdale, an active adult community in Scottsdale, from Dallas-based Velocis Edison McCormick JV LP for $32.7 million. Matt Roach, Chris Roach, Brad Cooke and Cindy Cooke of the Cooke Multifamily Team at Colliers handled the transaction. Located at 9449 N. 90th St. within the McCormick Ranch master-planned community, the three-story 55 Resort Scottsdale offers 102 core active adult units averaging 671 square feet. Apartments feature quartz countertops, tiled showers with benches, full-sized washers/dryers and private patios or balconies. Community amenities include a resident lounge, community bar and fireplace within the Club House, a fitness center, wellness studio and space for group yoga, fitness and health-related programs. Additional amenities include a resort-style heated pool and spa, an outdoor firepit, outdoor lounge areas, a rooftop deck, community library, business center, clubroom, dog wash station and bike wash. The property also offers carports for residents, as well as electric vehicle charging stations. The property was completed in 2025.

November 7, 2025

Arizona Development Multifamily Seniors Housing Western

LCS Development Underway on Third Phase of Renovations at 50-Acre CCRC in Tempe, Arizona

by Amy Works November 5, 2025

TEMPE, ARIZ. — LCS Development is underway on the third phase of a master-planned renovation at Friendship Village Tempe, a 50-acre continuing care retirement community located in Tempe. Construction has begun on the phase, which will include the removal of an existing structure and the addition of a new, five-story building. Upon completion, which is planned for the fourth quarter of 2027, the building will total 175,900 square feet with 69 independent living apartments, two guest suites and below-grade parking. Units in the building will range in size from 909 to 2,396 square feet. Amenities will include a Del Fuego restaurant and lounge, duckpin bowling lanes, a spa and clinic space, clubrooms and a group exercise area. The building will also offer access to amenities located within other parts of the campus, which include rooftop pickleball courts and Starfire, a full-service rooftop restaurant and microbrewery. Friendship Village Tempe was originally built in 1980, with the revitalization project beginning in 2019. Ryan Cos. US Inc. is serving as the general contractor for all phases of the renovation. Ryan A+E, the design studio of Ryan Cos., has served as the architect for all three phases. Six total phases of renovation are planned at …

November 5, 2025

Arizona Development Industrial Loans Western

ViaWest Group, Barings Receive $107M in Construction Financing for Industrial Project in Phoenix

by Amy Works November 4, 2025

PHOENIX — ViaWest Group and Barings have received $107 million in construction financing for ReDiscover Logistics Park, an industrial development located at 2402 W. Beardsley Road in Phoenix. Kevin MacKenzie, Jason Carlos and Lilley Kroll of JLL Capital Markets arranged the loan through a life insurance company. Situated on 43.5 acres, ReDiscover Logistics Park will offer 808,448 square feet of industrial space spread across four individual buildings ranging from 189,280 square feet to 212,000 square feet with clear heights of 32 to 36 feet, designed to accommodate a diverse range of manufacturing and distribution tenants. The development will incorporate flexible space configurations, a 200-foot shared truck court depth, FM Global compliant sprinkler systems and 980 parking spaces. Construction is underway, with completion slated for first-quarter 2027.

November 4, 2025

Acquisitions Arizona Multifamily Western

Millburn & Co. Buys 215-Unit Alta Biltmore Multifamily Property in Phoenix

by Amy Works November 4, 2025

PHOENIX — Millburn & Co. has acquired Alta Biltmore, an apartment community in Phoenix’s Camelback Corridor submarket, from a national multifamily developer for an undisclosed price. Asher Gunter, Matt Pesch, Sean Cunningham and Austin Groen of CBRE represented the seller in the transaction. Constructed in 2024, Alta Biltmore offers 215 apartments, a central courtyard with a resort-style pool and spa, tanning deck and a rooftop terrace with barbecue grills, covered seating and panoramic mountain views. The resident clubhouse features an entertainment kitchen and a speakeasy as well as a 24/7 fitness center with cardio and weight training equipment and a separate yoga studio. Additional amenities include micro-offices, private conference suites, bike storage and repair shop and electric vehicle charging stations.

November 4, 2025

Acquisitions Arizona Industrial Western

Lincoln Acquires 191,000 SF Partially Occupied Data Center in Chandler, Arizona

by Amy Works November 3, 2025

CHANDLER, ARIZ. — Lincoln Property Co. has purchased a partially occupied data center located at 2500 W. Frye Road in Chandler. The 191,000-square-foot property offers 28MW of confirmed utility power, served by an existing and dedicated onsite Salt River Project substation. The asset features four data center halls, one of which is fully leased to a Fortune 500 enterprise user. Lincoln plans to fit out the remaining three halls, adding 16MW of critical capacity and positioning the building for immediate lease-up, with an initial 4.2MW targeted for delivery in early first-quarter 2026. The company will also transition the project from an evaporative cooled to air cooled mechanical system, creating the potential for up to 3 million gallons of water savings per month for the City of Chandler. Additionally, the site is approved for additional development as part of an agreement initiated by the property’s previous owner. Kristina Metzger, Ben Wobschall and Mark Krison of CBRE represented the seller in the Frye Road facility sale. Lincoln will serve as the building’s property manager, while leasing will be handled by Lincoln’s data center leasing team.

November 3, 2025

Acquisitions Arizona Industrial Retail Western

Cushman & Wakefield | PICOR Arranges $3.5M Sale of Flex Property in Tucson

by Amy Works November 3, 2025

TUCSON, ARIZ. — Cushman & Wakefield | PICOR has arranged the sale of a 22,960-square-foot flex building located at 5251 E. Speedway Blvd. in Tucson. WAA 5251 E Speedway Blvd LLC purchased the asset from Inspired Adventures Investments for $3.5 million. Natalie Furrier and Greg Furrier of Cushman & Wakefield | PICOR Retail Specialists team represented the seller, while Robert Glaser and Paul Hooker of Cushman & Wakefield | PICOR Industrial Specialists team represented the buyer in the deal.

November 3, 2025

Acquisitions Arizona Multifamily Western

JLL Arranges $20M Sale of Value-Add Multifamily Property in Glendale, Arizona

by Amy Works October 31, 2025

GLENDALE, ARIZ. — Wealhouse Capital Management has sold Summers Point in Glendale for $20 million. JLL represented Wealhouse and arranged acquisition financing for the transaction. The identity of the buyer was not disclosed. Summers Point was built in 1980 and features 16 buildings across 4.3 acres with a unit mix that includes studios, one- and two-bedroom apartments averaging 572 square feet. The former owner renovated 98 of the 164 units, leaving value-add potential for future renovations on the remaining 66 units. Renovated units feature white shaker cabinetry with brushed nickel hardware, vinyl wood plank flooring, stainless steel appliances and subway tile backsplashes. JLL Capital Market’s investment sales team was led by Brian Smuckler, Jeff Seaman, Derek Smigiel and Bryson Fricke.

October 31, 2025

Arizona Development Industrial Western

IndiCap, VAC Development Start Construction of $31M Bethany Bay Industrial Project in Glendale, Arizona

by Amy Works October 28, 2025

GLENDALE, ARIZ. — IndiCap and VAC Development have broken ground for Bethany Bay, a Class A shallow-bay industrial project in Glendale. Located at 16380 and 16840 W. Bethany Home Road, the $31 million development will feature 136,800 square feet spread across two buildings. Completion is slated for August 2026. The 98,060-square-foot Building 1 will offer a clear height of 28 feet and 5,000 amps of power, and the 39,226-square-foto Building 2 will feature a clear height of 24 feet and 2,500 amps of power. Suite sizes will range from 4,500 square feet to 18,000 square feet, with each building accommodating four to six users. Building 2 will be delivered with fully built-out speculative office suites ranging from 800 square feet to 1,100 square feet — each of which will be connected to warehouse space and equipped with HVAC, lighting and restrooms for near-immediate occupancy. MIke Schwab of Land Advisors handled the project on behalf of IndiCap. The project team includes Berkeley Partners as senior lender, Olive Point Capital as preferred equity, Newmark as lender placement, Colliers as leasing broker, Commonwealth Land Title Insurance Co. as title company, Ware Malcomb as architect and civil engineer and FCL Builders as general contractor.

October 28, 2025

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