October 16, 2020
StreetLights Residential and Nexpoint Advisors divested The Angela, a 253-unit Class A multifamily community that delivered last year in Phoenix. The Camelback Corridor asset at 2727 E. Camelback Rd. was acquired by an entity affiliated with Atlanta-based Cortland Partners for $117 million, according to Vizzda.
StreetLights Residential’s Greg Nadeau says, “We crafted a multifamily community inspired by early twentieth century five-star resorts using the highest-quality finishes and architectural nuances to create a truly unique resident experience.”
CBRE’s Tyler Anderson, Sean Cunningham, Asher Gunter, Matt Pesch and Mark McFate represented the sellers. CBRE Capital Markets arranged $64,350,000 in new Fannie Mae debt on the Spanish Colonial Revival-themed project.
Gunter says, “The Angela is the most tasteful multifamily community ever built in Arizona. StreetLights Residential is known for building the finest apartments in high-growth markets across the country and they have redefined luxury apartment living in Phoenix with The Angela.”
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