CBRE negotiated the sale of a three-property multifamily portfolio in Downtown Phoenix, totaling 323 units. The portfolio includes Class A multifamily communities located within one-half mile of each other in the Roosevelt Row neighborhood.
CBRE’s Asher Gunter, Matt Pesch, Austin Groen and Sean Cunningham represented Baron. Jesse Weber and Andrew Behrens of CBRE Debt & Structured Finance arranged financing on behalf of the buyer. The transaction marks Regent Properties’ first Phoenix-area multifamily acquisition.
Built by Baron Properties between 2016 and 2020, Linear (295 East Roosevelt Street), iLuminate (290 East Roosevelt Street) and The McKinley (280 West McKinley Street) feature swimming pools and rooftop patios.
Roosevelt Row is downtown Phoenix’s walkable arts district, home to art galleries, restaurants, bars and boutique shops in a landscape dotted by colorful street art. Popular events in the neighborhood include the monthly First Fridays Art Walk and annual festivities such as M3F Music Festival, Phoestivus, the Pie Social and more.
Since 1983, Baron has invested in, developed, or redeveloped more than $2 billion worth of properties across Colorado, Arizona and Idaho.
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