You miss 100 percent of the shots you never take, and if you think it’s expensive to hire a professional to do the job, wait until you hire an amateur. FOR OVER 20 YEARS, I HAVE WORKED EXTENSIVELY WITH OWNERS AND BUYERS IN LAND, COMMERCIAL AND INVESTMENT REAL ESTATE IN PHOENIX, TUCSON AND THROUGHOUT ARIZONA. PLEASE LET ME KNOW HOW I CAN HELP YOU. Call me if you want to sell your property and need an estimated value. Phone: 480-948-5554 Prefer cell: 520-975-5207 or email me walterunger@ccim.net.
CLICK HERE TO VIEW ALL MY 60 MIL WORTH OF LISTINGS.
Selling Price for 300-Unit Signature Place Increases 56% From Four Years Ago
By Randyl Drummer CoStar News August 5, 2020
Multifamily investor Knightvest Capital bought Signature Place apartment complex in south Tempe, Arizona, for $62.5 million, underscoring the continued strong investor demand for multifamily rental housing in greater Phoenix during the coronavirus pandemic.
Multifamily investor Western Wealth Capital sold the 300-unit community at 600 W. Grove Parkway for $207,641 per unit, a 56% increase over the $133,000 a unit it paid in 2016 as part of a series of investments in Phoenix multifamily properties that year, according to CoStar sales data.
The apartments built in 1996 include two swimming pools, a fitness center, lighted tennis courts and outdoor grilling areas. Signature Place was listed for sale before the pandemic and generated significant interest, but completing the deal during the pandemic is “a testament to the resiliency of both the buyer and seller” as well as the sound market and economic conditions in Phoenix which make Tempe a hot target for multifamily investments, Matt Pesch of CBRE Group, which represented Western Wealth, said in a statement.
Phoenix apartments recorded a near-record-low vacancy rate of 3.9% in the first quarter leading into the pandemic, and the rate increased to only 4.5% at the end of the second quarter, according to CBRE Econometric Advisors. Phoenix had the strongest one-year total return for multifamily investments out of the 29 largest U.S. metropolitan areas in the second quarter, CBRE said.
However, as in most parts of the country, much of Phoenix’s economy came to an abrupt halt and unemployment claims surged during stay-at-home orders, and despite the reopening of the economy, employment has not regained momentum and the expectation of a quick recovery has waned due to the rise in COVID-19 cases, according to CoStar Market Analytics. Tempe’s economic health is also affected by Arizona State University’s decision to conduct in-person learning this fall, and how many students feel comfortable returning to campus, CoStar said.
Dallas-based Knightvest has redeveloped or renovated more than 100 properties since its launch in 2007.
For the Record
CBRE’s Tyler Anderson, Sean Cunningham, Asher Gunter and Matt Pesch in Phoenix represented Western Wealth Capital.
SEE IT ALL: https://product.costar.com/home/news/1939977110?market=29
FROM ME: Now is the time, if you are thinking of selling or purchasing your Land or Commercial Building in Phoenix, Scottsdale, Maricopa County, Pinal County, Arizona / Office / Retail / Industrial / Multi-family / please call me on my cell 520-975-5207 or e-mail me walterunger@ccim.net. Investors and Owner / Users need to really know the market today before making a move. The market has a lot of moving parts. What is going on socio-economically, what is going on demographically, what is going on with location, with competing businesses, with public policy in general — all of these things affect the quality of selling or purchasing your Commercial Properties, Commercial Investment Properties and Commercial and large tracts of Residential Land Therefore, you need a broker, a CCIM (Certified Commercial Investment Member) who is a recognized expert in the commercial and investment real estate industry and who understands your needs. I am marketing my listings on Costar, Loop-net, CCIM, CREXi, Catylist, and various other web sites. I also sold hundreds millions of dollars’ worth of Investment Properties / Owner User Properties in Retail, Office Industrial, Multi-family and Land in Arizona and therefore I am working with brokers, Investors and Developers. I am also a CCIM and through this origination ( www.ccim.com ) I have access to marketing not only in the United States, but also international. Click here to find out what is a CCIM: https://en.wikipedia.org/wiki/CCIM
CLICK HERE TO VIEW ALL MY 60 MIL WORTH OF LISTINGS.
https://www.crexi.com/properties?searchBrokerId=17513
http://walter-unger.com/gold-canyon-resort-sells-for-29-4m/
Walter Unger CCIM
Associate Broker
West USA Commercial Division
7077 E MARILYN RD.
Suite 200, Building 4.
Scottsdale AZ, 85254
Phone: 480-948-5554
Cell: 520-975-5207
History of Arizona from 900 BC – 2017 -Timeline.
History of Arizona from 900 BC – 2017 -Timeline.
History of Arizona from 900 BC – 2017 -Timeline.
WHY PHOENIX? AMAZING!!! POPULATION IN 1950 – 350 K PEOPLE; “NOW 5 MIL”. – “5TH. BIGGEST CITY IN USA”
- DEMOGRAPHIC FACTS ABOUT MARICOPA COUNTY:
Walter Unger CCIM – walterunger@ccim.net – 1-520-975-5207 – http://walter-unger.com
Timeline of Phoenix, Arizona history
Facts of Arizona – year 1848 to 2013
CLICK HERE: Arizona Opportunity Zones As We Understand /maps. Interested!!! Please contact me.
Feel free to contact Walter regarding any of these stories, the current market, distressed commercial real estate opportunities and needs, your property or your Investment Needs for Comercial Properties in Phoenix, Tucson, Arizona.
Walter Unger CCIM
Associate Broker
West USA Commercial Division
7077 E MARILYN RD.
Suite 200, Building 4.
Scottsdale AZ, 85254
Phone: 480-948-5554
Cell: 520-975-5207
FOR OVER 20 YEARS, I HAVE WORKED EXTENSIVELY WITH OWNERS AND BUYERS IN LAND, COMMERCIAL AND INVESTMENT REAL ESTATE IN PHOENIX, TUCSON AND THROUGHOUT ARIZONA. PLEASE LET ME KNOW HOW I CAN HELP YOU PLEASE CALL ME
CLICK HERE TO VIEW ALL MY 60 MIL WORTH OF LISTINGS.
https://www.crexi.com/properties?searchBrokerId=17513
Also Call me if you need an estimated value of your Property.
Call me if you want to see a map with what is in the Construction Pipeline for Apartments.
Prefer cell: 520-975-5207, or email me walterunger@ccim.net. CLICK HERE TO VIEW ALL MY LISTINGS.
Check out my professional profile and connect with me on LinkedIn.
Walter Unger CCIM, CCSS, CCLS
I am a successful Commercial / Investment Real Estate Broker in Arizona now for 20 years. If you have any questions about Commercial / Investment Properties in Phoenix or Commercial / Investment Properties in Arizona, I will gladly sit down with you and share my expertise and my professional opinion with you. I am also in this to make money therefore it will be a win-win situation for all of us.
Please reply by e-mail walterunger@ccim.net or call me on my cell 520-975-5207
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