The Retro on 32nd Street a 62-unit Phoenix Apartment Community Sells for $5.35 Million

Phoenix, Ariz. – ABI Multifamily is proud to announce the $5,350,000 / $86,290 Per Unit / $214 Per SF sale of The Retro on 32nd Street Apartments in Phoenix, Arizona.
The Retro on 32nd Street is a 62-unit garden-style apartment community in the East Phoenix submarket. The highly desirable location provides convenient access to Scottsdale, Camelback Corridor and the Biltmore, and State Route 51 Freeway lies just 10 minutes to the west.

Built in 1968 and renovated in 2015, The Retro on 32nd Street offers a desirable mix of 31 studio, 29 one-bed/one bath and two two-bed/one-bath units.

ABI Multifamily’s Private Apartment Team — made up of associates Dallin Hammond and Mitchell Drake, as well as VP Ryan Smith — represented the Buyer.

“This neighborhood, and really this entire section of town, is seeing a major upswing in terms of renovation and redevelopment across all housing types,” Hammond said. “With the foundation of upgrades that has already taken place here in the past few years, our client has the opportunity and determination to bring The Retro on 32nd Street up to its full value-add potential through ongoing interior and exterior renovations that could really make it a showcase property for the entire area.”

The California-based Buyer is a private investment team. The Seller, also based in California, is a private investment and management firm.

ABI Multifamily Closes 3 $20M+ Transactions in One Day

Cabana at the Pointe Apartments

Phoenix & Tucson, Arizona — ABI Multifamily announced today it closed three transactions totaling $71,450,000 on March 21. The three transactions were the highlight of a 20 transaction First Quarter.


Closing Date


Serafina at South Mountain Apartments Phoenix March 21 $27,450,000
Cabana at the Pointe Apartments Phoenix March 21 $22,200,000
Mission Antigua Apartments Tucson March 21 $21,800,000

“This was an exciting quarter both for us as an organization and for the multifamily market in general,” said ABI Multifamily Senior Managing Partner John Kobierowski, “and it really showcases our exclusive focus on multifamily. The fact that we had three major transactions close in one day shows just how much opportunity there is in the market right now.”

Phoenix Leads Nation; ABI Leads Phoenix
Kobierowski expressed great enthusiasm about Phoenix’s status as the most exciting multifamily market in the county and ABI Multifamily’s role in it.

“The Phoenix MSA is leading the country in in-migration right now and riding a sweet spot between affordability and attractive rent growth,” he said. “Depending on what reports you read and what criteria they choose to target, there are several contenders for ‘hottest multifamily market’ in the nation, but when we attend national conferences and industry events, we’re positively mobbed with investors of all types looking for first-hand expertise in the Phoenix market.”

He added, “If I can brag for just a moment, ABI Multifamily is the leading brokerage for the hottest commercial real estate sector in the most exciting market in the country, and that feels really good.”

To best serve its clients’ needs, ABI Multifamily maintains dedicated teams of brokers covering the gamut of opportunities in the sector, including two-nine units, 10-99 units, 100+ units, land sales and manufactured housing. “The fact that our advisors are experts in their respective areas is one of the keys to our success,” Kobierowski said. “Another major factor is that, unlike in many brokerages that foster an ‘everyone for themselves’ mindset, our team members actively share their expertise, insights, contacts and sources as part of our operating culture.”

Senior Managing Partner Alon Shnitzer echoed Kobierowski’s enthusiasm and praised both the company’s brokers and the behind-the-scenes members who help with every transaction.

“None of what we do happens in a vacuum,” Shnitzer said. “We have 22 advisors in four markets handling complex transactions of, literally, every possible size. We’re supported by administrative and support teams of marketing, research and operational staff that are second-to-none, and our entire talent pool is brought to bear, as needed, to maximize our clients’ value and return on every opportunity, regardless of size.”

ABI Multifamily Welcomes Jack Hannum as SVP in its Phoenix Office

Phoenix, AZ – ABI Multifamily, the Western US’ leading multifamily brokerage and advisory services firm, is excited to announce Jack Hannum has joined the firm as Senior Vice President in the company’s Phoenix Office. Hannum will focus on enhancing the firm’s Institutional presence, primarily focusing on properties of more than 150-units.

John Kobierowski, Senior Managing Partner, states, “We’ve wanted to add Jack to our team for quite a while, and we’re thrilled the timing has finally worked out. His down to earth, pragmatic approach to business fits perfectly with our company culture, and his background and expertise in finance and deal structure deepens our suite of skills and service offerings even more. Jack brings an excellent pedigree of strong client relationships. People love working with him, and we’re glad he’s now working with us.”

After four years of service in the U.S. Navy onboard USS Princeton (CG 59), during which he participated in Operation Desert Storm, Jack graduated magna cum laude from California State University, Northridge with a B.S. in business and finance. A long-time Phoenix resident, he has spent more than 20 years serving commercial real estate clients and guiding them through an array of complex transactions.