Decron Properties Buys Broadstone Grand Multifamily Community in Phoenix for $106.5M

by Amy Works

PHOENIX — Decron Properties has purchased Broadstone Grand, a multifamily property located at 1003 W. Washington St. in Phoenix. Developer Alliance Residential Co. and partner Appian Capital sold the community for $106.5 million.

Built in 2020, Broadstone Grand features 300 apartments; a pool area with waterfall feature and indoor-outdoor pool house; fitness center with outdoor yoga lawn and Peloton bikes; resident club room with demonstration kitchen; lounge and fireplace; and outdoor gourmet grilling areas. Additionally, the community’s gaming lounge offers a pool table, shuffleboard table, arcade games and entertainment island for resident events.

Tyler Anderson, Sean Cunningham, Asher Gunter and Matt Pesch of CBRE’s Phoenix Multifamily Institutional Properties represented the sellers in the transaction.

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