{"id":501528,"date":"2021-06-07T16:34:03","date_gmt":"2021-06-07T20:34:03","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/cushman-wakefield-brokers-96m-sale-of-new-multifamily-community-in-arizona\/"},"modified":"2021-06-07T16:34:03","modified_gmt":"2021-06-07T20:34:03","slug":"cushman-wakefield-brokers-96m-sale-of-new-multifamily-community-in-arizona","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/cushman-wakefield-brokers-96m-sale-of-new-multifamily-community-in-arizona\/","title":{"rendered":"Cushman & Wakefield Brokers $96M Sale of New Multifamily Community in Arizona"},"content":{"rendered":"

<\/p>\n

Cushman & Wakefield Brokers $96M Sale of New Multifamily Community in Arizona<\/b><\/p>\n

PHOENIX–(BUSINESS WIRE<\/a>)–
\nCushman & Wakefield (NYSE: CWK) announced the firm has brokered the sale of Broadstone Rio Salado, a 276-unit Class A apartment community located at 2325 E Rio Salado Parkway in Tempe, Arizona. The newly developed asset was acquired by an entity formed by Los Angeles-based Decron Properties for $96 million. The seller and original project developer was Phoenix-based Alliance Residential Co., one of the nation\u2019s leading multifamily developers. Alliance Residential\u2019s Joint Venture Equity Partner was Phoenix Capital Holdings.\n<\/p>\n

\nDavid Fogler and Steven Nicoluzakis with Cushman & Wakefield\u2019s Multifamily Advisory Group in Phoenix represented the seller in the transaction.\n<\/p>\n

\n\u201cThe relatively low density of Broadstone Rio Salado combined with the high level of interior finishes and top-of-the-market amenities has created a truly unique asset in a dynamic urban environment,\u201d said Fogler, Executive Managing Director. \u201cTempe is widely regarded as one of the Phoenix area\u2019s most dynamic submarkets and Broadstone Rio Salado is well positioned to take advantage of its exceptional location at the intersection of the 101 and 202 freeways. It is also proximate to some of the region\u2019s largest employers and near an abundance of shopping, dining and entertainment amenities, and Arizona State University within just a few miles.\u201d\n<\/p>\n

\nNewly constructed in 2020, Broadstone Rio Salado consists of 28 studio units, 144 one-bedroom and 104 two-bedroom floor plans. On-site amenities feature a resort-style pool and spa, outdoor courtyards, an outdoor lounge, a clubroom, Wi-Fi lounge, and a two-level, state-of-the-art fitness center.\n<\/p>\n

About Alliance Residential Company<\/b><\/p>\n

\nAlliance Residential Company is the most active multifamily developer and one of the largest private residential real estate companies in the United States. Headquartered in Scottsdale, Arizona with 15 regional offices, Alliance is focused on the development, construction and acquisition of residential communities across 13 states and 23 metropolitan markets. Alliance develops high-end Broadstone multifamily communities, Holden senior housing communities, and workforce housing properties through its Prose brand. For more information, visit www.allresco.com<\/a><\/p>\n

\n2020 Milestones\n<\/p>\n

\nAfter 20 years as a leading full-service multifamily developer, builder, manager and buyer, and the most active developer in the U.S. in 2018 and 2019, Alliance Residential Company streamlined its business in June 2020 with the sale of its property management division to Greystar. The sale created a long-term strategic relationship with the combined property management company, owned by Greystar, providing management services to Alliance\u2019s current and future multifamily acquisition and development projects.\n<\/p>\n

About Cushman & Wakefield <\/b><\/p>\n

\nCushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with approximately 50,000 employees in over 400 offices and 60 countries. In 2020, the firm had revenue of $7.8 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services. To learn more, visit www.cushmanwakefield.com<\/a> or follow @CushWake<\/a> on Twitter.\n<\/p>\n

\"\"<\/p>\n

View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20210607005738\/en\/<\/a><\/span><\/p>\n

Joshua Deale
\n<\/b>
Cushman & Wakefield
\n<\/span>
Communications Manager, West Region
\n
Mobile: +1 415 677 0423
\n
joshua.deale@cushwake.com<\/a><\/p>\n

KEYWORDS:<\/b> Arizona United States North America<\/p>\n

INDUSTRY KEYWORDS:<\/b> Residential Building & Real Estate Commercial Building & Real Estate Construction & Property REIT<\/p>\n

MEDIA:<\/b><\/p>\n\n\n\n\n
Logo<\/b><\/font><\/td>\n<\/tr>\n
\"Logo\"<\/td>\n<\/tr>\n
<\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

Cushman & Wakefield Brokers $96M Sale of New Multifamily Community in Arizona PHOENIX–(BUSINESS WIRE)– Cushman & Wakefield (NYSE: CWK) announced the firm has brokered the sale of Broadstone Rio Salado, a 276-unit Class A apartment community located at 2325 E Rio Salado Parkway in Tempe, Arizona. The newly developed asset was acquired by an entity formed by Los Angeles-based Decron Properties for $96 million. The seller and original project developer was Phoenix-based Alliance Residential Co., one of the nation\u2019s leading multifamily developers. Alliance Residential\u2019s Joint Venture Equity Partner was Phoenix Capital Holdings. David Fogler and Steven Nicoluzakis with Cushman & Wakefield\u2019s Multifamily Advisory Group in Phoenix represented the seller in the transaction. \u201cThe relatively low density of Broadstone Rio Salado … <\/p>\n

Continue reading “Cushman & Wakefield Brokers $96M Sale of New Multifamily Community in Arizona”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-501528","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nCushman & Wakefield Brokers $96M Sale of New Multifamily Community in Arizona - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/cushman-wakefield-brokers-96m-sale-of-new-multifamily-community-in-arizona\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Cushman & Wakefield Brokers $96M Sale of New Multifamily Community in Arizona - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Cushman & Wakefield Brokers $96M Sale of New Multifamily Community in Arizona PHOENIX–(BUSINESS WIRE)– Cushman & Wakefield (NYSE: CWK) announced the firm has brokered the sale of Broadstone Rio Salado, a 276-unit Class A apartment community located at 2325 E Rio Salado Parkway in Tempe, Arizona. The newly developed asset was acquired by an entity formed by Los Angeles-based Decron Properties for $96 million. The seller and original project developer was Phoenix-based Alliance Residential Co., one of the nation\u2019s leading multifamily developers. Alliance Residential\u2019s Joint Venture Equity Partner was Phoenix Capital Holdings. David Fogler and Steven Nicoluzakis with Cushman & Wakefield\u2019s Multifamily Advisory Group in Phoenix represented the seller in the transaction. \u201cThe relatively low density of Broadstone Rio Salado … Continue reading "Cushman & Wakefield Brokers $96M Sale of New Multifamily Community in Arizona"\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/cushman-wakefield-brokers-96m-sale-of-new-multifamily-community-in-arizona\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2021-06-07T20:34:03+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&sty=20210607005738r1&sid=flmnd&distro=nx&lang=en\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/cushman-wakefield-brokers-96m-sale-of-new-multifamily-community-in-arizona\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/cushman-wakefield-brokers-96m-sale-of-new-multifamily-community-in-arizona\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Cushman & Wakefield Brokers $96M Sale of New Multifamily Community in Arizona\",\"datePublished\":\"2021-06-07T20:34:03+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/cushman-wakefield-brokers-96m-sale-of-new-multifamily-community-in-arizona\\\/\"},\"wordCount\":546,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/cushman-wakefield-brokers-96m-sale-of-new-multifamily-community-in-arizona\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/cts.businesswire.com\\\/ct\\\/CT?id=bwnews&sty=20210607005738r1&sid=flmnd&distro=nx&lang=en\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/cushman-wakefield-brokers-96m-sale-of-new-multifamily-community-in-arizona\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/cushman-wakefield-brokers-96m-sale-of-new-multifamily-community-in-arizona\\\/\",\"name\":\"Cushman & Wakefield Brokers $96M Sale of New Multifamily Community in Arizona - 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