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Berkadia Completes $10.5 Million Sale of a Multifamily Community in Phoenix Metro

PHOENIX, Arizona – Berkadia today announced the sale of Main Street Lofts at Verrado, a 45-unit multifamily community located within the Verrado Master Plan in Buckeye, Arizona. Senior Director Dan Cheyne, and Senior Managing Directors Ric Holway and Mark Forrester of Berkadia Phoenix completed the $10.5 million sale on behalf of the buyer, Triumph Properties. The deal closed on July 12.

“The Main Street Lofts at Verrado sale represented a unique asset of 45 quality condominium apartments located above a first-floor retail in the downtown district of Verrado, offering residents a truly walkable lifestyle experience,” said Cheyne.

The property offers walkable access to grocery, eateries, coffee shops and retail. Apartment homes feature open loft style floor plans with 10-18 feet ceilings, private terraces and spacious floorplans.

Main Street Lofts at Verrado represents Triumph Properties’ second acquisition in the Phoenix Metro. Triumph Properties is a national full service commercial real estate investment, management and development firm based out of Beverly Hills, California. The company has approximately 3,000 units under management across the country