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.

“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.”

Maracay Homes, D.R. Horton and Richmond American continued rolling options in metro Tucson area for a total of $1.66 million.

Maracay Homes took down 6-SFR lots more at Tortolita Vista for $1,015,673 ($169,279 per lot) in the Northwest submarket of Tucson. These were part of a 54-lot rolling option between Maracay and Ready Eight Corporation that started in September, 2013. With this takedown Maracay has 42-SFR lots in this community that are roughly one acre lots.

Will White and John Carroll of Land Advisors Organization in Tucson represented Maracay in the transaction. To learn more White and Carroll should be reached at 520.514.7454 and visit MaracayHomes.com for more information on this community.

For more details log in and see RED Comp #2788.

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D.R. Horton purchased more SFR lots at Mission Antigua in the western submarket of Tucson. This purchase was the third takedown for 8 finished lots of a 38-lot rolling option for $232,984 ($29,123 per lot) which will bring the subdivision to almost fully build out.

Dan Feig and Aaron Mendenhall of Chapman Lindsay in Tucson represented the seller, Antigua Associates, an affiliate of Red Point Development of Tucson, in the transaction. To learn more Feig and Mendenhall can be contacted at 520.747.4000 and visit D.R. Horton at Mission Antigua.

For more details log in and see RED Comp #2755.

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Richmond American Homes of Arizona, a subsidiary of MDC Holdlings, Inc. (NYSE: MDC), is buying 56-SFR lots at Madera Highlands Villages in the Town of Sahuarita and recently closed on the third takedown for five lots at $411,281 ($82,256 per lot). The roughly one-acre lots were originally developed by the Toll Brothers for luxury home construction and resold to MK Company Southwest of Scottsdale (Keith Holben, principal) during the market downturn. MK Company Southwest is the seller for the rolling option to Richmond American.

Will White and John Carroll of Land Advisors Organization in Tucson handled the transaction. To learn more White and Carroll should be reached at 520.514.7454 and visit Richmond American Homes

For more details log in and see RED Comp #2687.

DR Horton has seen some success in the southern submarket of Tucson. In Sahuarita Highlands DR Horton took down an additional five finished SFR lots for $225,923 ($45,185 per lot); its second to last takedown from Tucson-based, Red Point Development (Daniel Leung, president) in this one-acre + lot subdivision.

Dan Feig and Aaron Mendenhall of Chapman Lindsay in Tucson represented the seller in the transaction.

DR Horton also purchased more lots at Mission Antigua in the western submarket of Tucson. This purchase was for 11 finished lots of a 38-lot rolling option for $308,000 ($28,000 per lot) which will bring the subdivision to almost full build out.

Dan Feig and Aaron Mendenhall of Chapman Lindsay in Tucson represented the seller, Antigua Associates, an affiliate of Red Point Development, in the transaction.

Maracay Homes purchased six more lots at Tortolita Vistas for $999,259 ($166,543 per lot) for the 1-acre lots in this Northwest community, off Tangerine and Thornydale Roads. This is the second takedown for Maracay here, with an option for 54 total lots. The rolling option was negotiated this past October.

Will White of Land Advisors Organization in Tucson represented Maracay Homes in the transaction.The seller was Ready Eight Corporation (David Mehl, manager).

Pepper Viner at Civano III purchased two more lots in Civano for $121,916 ($60,958 per lot) from Spectrum Capital Partners (Matt Horn, manager) of Tucson. This southwest community has been very successful for Pepper Viner.

Petrus-Crown West purchased the last remaining 61.86 acres of land in Pomegranate Farms Master Planned Community for $375,000 ($6,062 per acre) in a REO sale from Great Western Bank. Petrus already owned 586 acres in Pomegranate Farms, a community is the southwest submarket, and purchased this last piece designated as commercial in the master plan. The property had no improvements, no utilities, and was purchased as raw land to hold for future development. For more information on Pomagranate Farms go to: https://realestatedaily-news.com/4-2-million-reo-pomegranate-farms-new-owner-petrus-crown-west/

Will White of Land Advisors Organization in Tucson represented Petrus in the transaction. The bank was self-represented.

To learn more Feig can be reached at 520-747-4000 x103 and Mendenhall is at 520-747-4000 x102. White can be contacted at (520) 514-7454.

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[mepr-show rules=”58038″]Sahuarita Highlands lots: Sale date: 6/25/2014. All cash. Lots 17-19, 139 & 140.
Mision Antigua lots: Sale date: 7/24/2014. All cash. Lots 7, 20, 26, 27, 30, 46, 51, 53, 56, 57 & 60.
Tortolita Vistas lots: Sale date: 7/7/2014. $871,759 down, seller carryback.  Lots 94-96, 134-136.
Civano Block 2 lots: Sale date 7/29/2014. Lot 20 & 28.
Pomegranate land: Sale dtae 7/9/2014. All cash. Proeprty is SW of Valencia & Valhalla Rd[/mepr-show]