Broadstone Uptown, 500 West Camelback Rd, Phoenix, AZ
PHOENIX (April 17, 2025) – CBRE negotiated the sale of Broadstone Uptown PHX, a 280-unit luxury multifamily community in Phoenix, Ariz. CBRE's Austin Groen, Matt Pesch, Asher Gunter and Sean Cunningham represented the seller, Alliance Residential Company. Phoenix-based Christiansen Ventures LLC acquired the community for $87 million. Troy Tegeler and CJ Connolly with CBRE's Debt & Structured Finance team, arranged financing for the buyer.
“Alliance consistently delivers best-in-class apartments and Broadstone Uptown PHX is one of the finest communities in the submarket,” said CBRE’s Groen. “Broadstone Uptown’s impressive lease-up is a testament to the phenomenal execution by Alliance in one of the most dynamic corridors in Metro Phoenix.”
Completed by Alliance Residential in 2024, Broadstone Uptown PHX amenities include a resort-style swimming pool and spa area with private cabanas and a pool house featuring a community kitchen and billiards table. The resident clubhouse includes a cafe with lounge seating, a complimentary coffee bar, and a leasing office. A 24-hour, club-style fitness center has state-of-the-art weight training and cardio machines. Additional amenities include an outdoor ramada with 360-degree mister, ping-pong, firepits, yard games, barbecue grills, a dog park, electric charging stations, and parcel package lockers.
Since its founding in 2000, Alliance Residential Company, headquartered in Scottsdale, has built or acquired more than 115,000 units nationwide, representing over $23 billion in invested capital.
“Alliance is proud of Broadstone Uptown PHX,” said Ian Swiergol, Managing Director of Alliance Residential’s Southwest Region. “Our Broadstone design, amenities, and interior finishes provide unparalleled luxury living in Phoenix’s booming Uptown submarket.”
The community’s unit interiors feature nine-foot ceilings, quartz countertops in the kitchen and baths with under-mount sinks and designer fixtures, wood-style flooring, full-size washer and dryer, illuminated vanity mirrors, ceiling fans with light kits, and keyless entry. Gourmet kitchens have energy-efficient stainless-steel appliances, a five-burner gas cooktop, pendant lighting, modern two-toned cabinetry with matte black hardware, and custom tile backsplash. Additional luxury amenities in select units include slide-out recycle and trash receptacles, desk nooks and mudroom entry, spacious walk-in closets, double sink vanities, Slate appliances, wine fridges, Sonos sound system, and 10-foot ceilings on the top level.
“Alliance Residential’s reputation for delivering top-of-market multifamily communities is among the best in the country, and we were exceptionally attracted to Broadstone Uptown’s unique appeal and outstanding lease-up performance,” said Christiansen Ventures CEO Michael Christiansen. “The community’s distinct design and ideal location are surrounded by abundant retail amenities and high-wage employment positions, Broadstone Uptown, for continued success.”
Broadstone Uptown is located in the heart of the Uptown submarket within walking distance of dozens of restaurants, nightlife destinations, and the iconic Uptown Plaza shopping center. A light rail station is steps from the community’s front door, and affluent neighborhoods north of Broadstone Uptown are lined with multi-million-dollar homes.