Hines, the global real estate investment, development, and property manager, announced the sale of Sentio, a luxury multifamily community located at the northwest corner of Happy Valley Road and 35th Avenue in North Phoenix, Arizona.
“Sentio is a premier asset within an exceptional location that meets the growing need for luxury living in the area,” said Chris Anderson, senior managing director and city head of Phoenix at Hines. “This sale results from a successful development and leasing strategy for the project and creates valuable liquidity for Hines and our investors.”
Sentio, which boasts 328,830-square-foot of high-end living space, is on a 13-acre site in the dynamic Deer Valley neighborhood. The community includes six three-story residential buildings alongside a clubhouse and fitness amenity center. Offering 325 luxury rental residences, Sentio provides a range of one-, two-, and three-bedroom apartments, all designed with spacious layouts and upscale finishes. The development is part of a broader commercial area, providing residents with immediate access to an array of retail, dining, and service options.
“Sentio adds to IDEAL’s growing Phoenix portfolio of top-tier multifamily assets, “said Kevin Conway, managing director at IDEAL Capital. “We believe strongly in the long-term outlook for Phoenix and specifically the Deer Valley submarket.”
Developed by Hines and designed by Dekker Perich Sabatini (DPS), the first units were available as early as May 2022, and the project reached substantial completion by March 2023. Sentio was fully leased by November 2022 facilitated through a master agreement with a major employer.
Hines has developed several significant projects in recent years in the Phoenix/Arizona market such as Adeline, 100 Mill, G303 Industrial and Chandler Viridian, and remains committed to the region’s real estate market.
