Harvard Investments Brings on Matthew Avrhami as a Vice President

Mathew Avrhami, VP, Harvard Investments

SCOTTSDALE, Ariz. – Harvard Investments is pleased to announce the addition of Mathew Avrhami as a Vice President at their firm, focused on launching and scaling a new investment niche in low-density hybrid SFR-multifamily investments. Mathew will be active in acquisitions, development, capitalization, asset management and disposition of investments.

“Mathew is a seasoned industry professional with a passion for promoting community and economic growth,” said Craig Krumwiede, President and CEO of Harvard Investments.  “Given his diverse background in commercial real estate, he adds a valuable component to our team of experts and we are pleased to have him on board.”

Avrhami has residential rental experience in both the SFR and multifamily sectors, in addition to experience across the capital stack and major asset types, specializing in creating value though entitlements, development, re-development, leasing, operational efficiencies, and market opportunities. Avrhami is actively involved in the Phoenix community as adjunct professor at Arizona State University’s WP Carey School of Business teaching Real Estate Investments.  He also volunteers as Chair of ULI NEXT, an exclusive peer-to-peer professional development group, and is on the City of Phoenix Paradise Valley Village Planning Committee as a past chairperson.



Lennar Closes on 195-Lot Prelim Plat for $6.7 Million in Marana

MARANA, ARIZONA — In one of the largest number of lots sold in a single transaction for the past year in metro Tucson, Lennar Arizona closed on 195 pre-platted lots at Preserve Twin Peaks located at Twin Peaks and Camino De Manana for $6.7 million ($34,359 per lot). The property consists of (129) 55’x120’ and (66) 70’x130’ lots on 100 acres.

Primary and secondary access to Preserve Twin Peaks will be from Camino de Manana.

“This is a major purchase by Lennar in a great location and the purchase is another show of market strength again for Tucson. 2019 is off to a fast start and the better locations continue to be picked up at a faster pace”

“The Twin Peaks corridor has been sought after for many years and all the infrastructure components have started to come together to make it a reality.”

Will White and John Carrol with Land Advisors Organization (LAO) in Tucson represented both the seller, ABIGER Marana, LLC and T&J Kahn Family, LP, as well as the buyer in the transaction.

White and Carroll should be reached at LAO, 520.514.7454.

To learn more, see RED Comp #6577.



Downtown Tempe’s “The Local” to Open April 2019

TEMPE, Ariz. — The Local, a new, multimillion dollar, mixed-use development located in the heart of downtown Tempe at University Drive and Ash Avenue, is set to welcome its first residents April 2019. This newest addition to the Tempe market will be anchored by the region’s newest lifestyle Whole Foods Market.

“We are excited to be joining the Tempe community and to delivering the ~580,000 gross square foot building this Spring,” stated Kevin Foltz, Managing Director of Development at Forum Real Estate Group, owners and developers of the project. “We look forward to welcoming residents and neighbors alike to come experience the unique design features and services that The Local has to offer,” said Foltz.

Located at the bustling intersection of University Drive and Ash Avenue, the 286-unit property features studio, one-, two- and three-bedroom apartments within five levels. Occupying the ground floor will be a brand-new Whole Foods Market with three levels of parking directly above: one level with reserved parking for Whole Foods Market shoppers, and two additional levels reserved for residents. The Local is conveniently located a short walking distance from Arizona State University and 10 minutes from Sky Harbor International Airport.

Property managing both The Local and the Whole Foods Market will be Mark-Taylor Residential, the state’s largest commercial developer and property management company of the year for eight straight years. “We’ve been eagerly watching the progress of the development and are excited about the opportunity to welcome its first residents,” said Mark-Taylor Residential President, John Carlson. “This is a truly unique community in a great location with innovative design and architectural elements that make it highly desirable.”

Slated to open later this year, the approximately 40,000 square foot Whole Foods Market will offer residents of Tempe a new, healthy grocery option, including prepared foods and an in-house café and bar with mezzanine and street-level outdoor seating.

Unique interior design features within The Local include natural concrete and exposed ducts, an eclectic mix of color, patterns and artwork set against a clean palette of warm woods and rich textures for an inviting, vintage-inspired vibe. The well-appointed studio, one-, two- and three-bedroom floorplans feature high-end finishes like stunning Italian tile kitchen backsplash, quartz countertops, hardwood-style plank flooring and oversized windows with roller shades. Lobby and common areas were carefully curated to blend elements of local art, culture and history throughout.

Residents at The Local will enjoy nearly 22,000 square feet of hotel-worthy amenities and services, such as:

  • Grand two-story lobby/reception with complimentary coffee bar.
  • Spacious 5th floor pool deck with oversized outdoor TV wall, grilling & entertainment spaces, private cabanas with misting system and intimate lounge areas with fire pit.
  • Sound-proof karaoke/music/entertainment lounge with direct access to outdoor pool deck.
  • State-of-the-art fitness studio equipped with the latest cardio, weight and circuit training equipment.
  • Separate yoga/barre/zen studio with outdoor terrace overlooking Ash Avenue.
  • Expansive 8th floor “Barcade”/clubroom with game areas, chef’s entertaining/demo kitchen, separate living/TV lounge, and an intimate speakeasy/game room – all with floor-to-ceiling windows overlooking University Avenue.
  • Multiple work-from-home/study suites including a cozy tea room.
  • Inviting 9th floor rooftop lounge with wet bar/prep kitchen, intimate lounge area, and outdoor terrace with cozy seating, fire pits and drink rail for breathtaking views of the Valley.
  • A convenient resident app to make rent payments, submit maintenance requests, reserve amenity spaces, etc.
  • Exclusive partnerships with local providers for services such as dog walking, housekeeping, dry cleaning, etc.

Sender Associates, a Tempe-based zoning law firm, completed the entitlements for the project. The general contractor is JE Dunn Construction. The architects are Humphreys & Partners Architects, and interior design was done by ESG Architects. Join in the conversation on social media with #TheLocalTempe. For more information, visit www.thelocaltempe.com.