Multifamily Continues To Rock And Roll

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The man who never makes a mistake always takes orders from one who does.

MARCH 25, 2016 | BY LISA BROWN

PHOENIX—The recent sale of Aderra Condominium Residences at $15.046 million is a clear sign that Phoenix multifamily assets are still in high demand.

Aderra is comprised of 312 condominiums on eight acres.

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PHOENIX—In case there was doubt that the multifamily market isn’t a hotbed of activity, a $15.046 million sale of a 90-unit condominium property is a clear sign that Phoenix multifamily assets are still in high demand. The property, Aderra Condominium Residences, is located near the intersection of Tatum Boulevard and Cactus Road.

The seller was Real Capital Solutions and the buyer was Pathfinder Partners. The Aderra project is comprised of 312 condominiums on eight acres. This 90-unit portion consists of one- and two-bedroom condominiums averaging 1,032 square feet.

JLL Phoenix executive vice president John Cunningham and senior vice president Charles Steele represented the property seller.

Cunningham tells GlobeSt.com: “The Metro Phoenix condominium market has recovered significantly since the depths of the Great Recession, appreciating by over 106% between 2011 and late 2015. In the Paradise Valley submarket, the median sales price for this product type rose to $315,000.”

Built in 2008, Aderra Condominium Residences are located at 11640 N. Tatum Blvd., 1.5 miles from State Route 51. Aderra fronts the Stone Creek Golf Course and offers more than 3.35 million square feet of retail shopping—including the 1.5 million-square-foot Paradise Valley Mall—within one mile of the property.

Aderra has three subterranean parking garages with elevators. It provides open floorplans with above-average 10- and 11-foot ceilings, gourmet-style kitchens, stainless steel appliances, custom wood cabinetry, gas fireplaces and oversized closets. Property amenities include gate access, fitness center, pet areas, pool and spa, and direct golf course access.

“These 90 units are a great opportunity for an investor to acquire and build value in an improving housing market, within one of metro Phoenix’s most affluent suburbs–while also enjoying the benefit of strong in-place cash flow,” said Cunningham.

 

 

FROM ME:

Phoenix Commercial Real Estate and Investment Real Estate: investors and Owner / Users need to really know the market today before making a move in Commercial Properties or Investment Properties in Phoenix / Tucson / Arizona, as the market has a lot of moving parts today. 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 in Phoenix / Tucson / Arizona.  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 Commercial Properties and Investment Properties.

I am marketing my listings on Costar, Loop-net CCIM, Kasten Long Commercial Group.  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

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I am actively looking to build relationships with Real Estate Investors and Owner  Users  for  Retail / Industrial / Office / Multifamily and Land  in  Phoenix  –  Scottsdale   –  Tucson   –  Arizona

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Click here to find Reasons to Consider me for Commercial Referrals

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Interactive Map Of All 10+ Unit Apartment Listings in Metro Phoenix

http://www.easymapmaker.com/map/28cb3b8b3206c377a6f282d980dc7974

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Interactive  Metro Phoenix Map of New Apartment Construction by Completion Status

http://www.easymapmaker.com/map/955edc17e00b08ce270fb7afb1523cc2

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Click here:

4rd QTR 2015  GREATER PHOENIX APARTMENT OWNER’S NEWSLETTER  Kasten Long Commercial Group.

http://klcommercialgroup.com/wp-content/uploads/2016/03/Q4-2015-Metro-Phoenix-Apartment-Owners-Newsletter.pdf

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Walter Unger CCIM –  walterunger@ccim.net   – 1-520-975-5207  –  http://walter-unger.com

2016 Official Arizona Visitors Guide

Visit Arizona

WHY PHOENIX ARIZONA : ???     

 check it out

http://walter-unger.com/?p=13391                     

 

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Timeline of Phoenix, Arizona history

 

http://en.wikipedia.org/wiki/Timeline_of_Phoenix,_Arizona_history

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Phoenix, Arizona

 

http://en.wikipedia.org/wiki/Phoenix,_Arizona

 

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Facts of Arizona – year 1848 to 2013

http://walter-unger.com/?p=9507

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.

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Kasten Long Commercial Group tracks all advertised apartment communities, including those advertised by other brokerages.  The interactive map  shows the location of each community (10+ units) and each location is color coded by the size (number of total units). 

Click here for Map of Apartments for Sale (10+units)

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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. 

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Please reply by e-mail walterunger@ccim.net or call me on my cell 520-975-5207

 

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Walter Unger CCIM

Senior Associate Broker 

Kasten Long Commercial Group

2821 E. Camelback Rd. Suite 600

Phoenix , AZ 85016

Direct:    520-975-5207   

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