March 20, 2019 Comments Off on Alliance Divests Phoenix MF to Weidner for $84M Views: 570 Arizona, National News, Southwest

Alliance Divests Phoenix MF to Weidner for $84M

Kirkland, WA-based Weidner Apartment Homes acquired Broadstone Roosevelt Row, a 316-unit apartment complex in the heart of downtown Phoenix’s Roosevelt Row. The luxury multifamily property was sold by Alliance Residential Co. for $84.2 million, which works out to $266,000 per-unit.

The five-story property at 330 E. Roosevelt St. is located in the Sky Harbor submarket. The community, which opened last summer, offers floorplan configurations from studio, to three-bedroom apartments.

Amenities include a two-story clubhouse with upscale chef’s kitchen, classic arcades and billiard games, pool and spa with five private cabanas, swim house featuring a complimentary coffee bar, oversized TV and billiard games, rooftop deck with fire pits, three landscaped outdoor patios with lounge seating, fire pits and barbecue grills. The property also has on-site restaurant and retail, as well as an enclosed subterranean parking garage.

Cushman & Wakefield’s David Fogler and Steven Nicoluzakis represented the seller. The buyer was self-represented.

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