IMT Capital acquired Marquis at Desert Ridge, a community situated in the Desert Ridge neighborhood in north Phoenix.
Located at 21155 N. 56th Street in Phoenix, the four-story Marquis at Desert Ridge community is a 370-unit property situated on approximately 13 acres. IMT has rebranded the property as IMT Desert Ridge. It’s 92% occupied.
IMT Desert Ridge last traded hands in 2015. CWS Capital Partners acquired the community for $77.5 million with a loan originated by Berkadia.
CBRE’s Asher Gunter, Matt Pesch, Sean Cunningham and Austin Groen represented the seller in the transaction.
CBRE Group, Inc., a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2018 revenue). The company has more than 90,000 employees (excluding affiliates) and serves real estate investors and occupiers through more than 480 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services.
Berkadia, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is a leader in the commercial real estate industry, offering a robust suite of services to our multifamily and commercial property clients. Through our integrated mortgage banking, investment sales and servicing platform, Berkadia delivers comprehensive real estate solutions for the entire life cycle of our clients’ assets.
