A joint venture between RXR and Korman Communities acquired The Blake, a 400-unit luxury multifamily community in Phoenix, Arizona. The property was sold by a joint venture between StreetLights Residential and an affiliate of RED Development.
The Blake includes unique amenities, including an expansive clubhouse with a library, dining room, coffee bar, conference rooms, co-working stations and TV seating areas. A private resident bar includes a roll-up window leading to outdoor seating around a resort-style pool and spa area with cabanas, fire features, televisions, barbecue grills, and dining areas.
The Blake’s residences are complete with 10-foot-plus ceilings with coves in the living rooms, luxury wood-style flooring in living areas and bedrooms, tile flooring in bathrooms, both granite and quartz countertop design options in bathrooms, walk-in closets, washer and dryer and Sonos speaker systems in all units. Gourmet kitchens include energy-efficient, stainless steel appliances and custom cabinetry and hardware.
CBRE‘s Matt Pesch, Asher Gunter, Sean Cunningham and Austin Groen represented the sellers in the deal.
Founded in 2007, New York-based RXR is a real estate investment manager, operator, developer and place-maker. RXR has approximately $18 billion in multifamily assets under management across 90-plus properties.
Korman Communities is a fully integrated, fifth-generation, 100-year-old real estate investment and property management company with total AUM of approximately $4 bil and nearly 40 properties across the United States and London.
StreetLights Residential specializes in new urbanist apartment homes and mixed-use developments. StreetLights has numerous urban infill projects throughout the country, with over 15,000 multifamily units completed or progressing in nine markets across seven states.
