Vancouver-based Pure Multi-Family Real Estate Investment Trust (Pure MF REIT) has purchased a multi-family property in downtown Phoenix for US$59 million, or CAD$74.7 million.
Alta Fillmore Apartments is an institutional-quality complex of 230 units, with an average suite size of 934 square feet. The property is situated on a four-acre lot on Fillmore Street at Seventh Avenue in the Arizona capital.
The sale was expected to close in November.
The high-end property includes luxury interiors, a rooftop lounge, pet areas featuring dog washing stations, a clubroom, pool, cabanas, bike shop and a café.
This is Pure Multi-Family REIT’s fourth acquisition in Arizona. The company’s current U.S. portfolio includes 21 properties, mostly located in Texas.
Vancouver-based rental investors have been quite active in the Phoenix market over the past two years.
From | Sutton West Coast Realty, Harrison Hot Springs. Sutton agent Freddy Marks reports the following sale:
DEAL | 2,565 hectares of commercial timberland with private Cranby Lake waterfront property. Texada Island, B.C. Price: $19.4 million.
From | CBRE Edmonton. CBRE agent Bradley Gingerich reports the following:
DEAL | 142-unit, low-rise rental complex sold at $119,436 per suite. Edinburgh Place, Saskatoon. Price: $16.9 million.
CBRE Vancouver agent Lance Coulson brokered:
DEAL | Fully renovated, 13-unit Kitsilano rental building, sold for $807,692 per suite. 1st Avenue, Vancouver. Price: $10.5 million.
From | Lee & Associates, Vancouver. Agents Chris McIntyre, Martin Delafontaine and Steve Caldwell report the following sales:
DEAL | Large manufacturing facility with high-density residential redevelopment potential, measuring 33,195-square-foot, on Alaska Street, Burnaby. Price: $12.8 million.
DEAL | Two industrial properties totaling 35,518 square feet, near Brentwood mall, Burnaby, zoned for manufacturing use with potential for residential rezoning. Douglas Road, Burnaby. Price: $25 million.
From | NAI Commercial, Vancouver. NAI agents Terry Harding, Brandon Harding and Jackson Tang brokered the following:
DEAL | Three-storey, 17-unit Marpole condo building, sold at $429,411 per suite. Oak Street, Vancouver. Price: $7.3 million.
From | JLL Canada, Edmonton. JLL agent Samuel Dean sold the following:
DEAL | 22,491-square-foot low-rise apartment in Queen Mary Park neighbourhood consisting of 20 suites. 109 Avenue, Edmonton. Price: $2.3 million.
DEAL | 17.42-acre mobile home park in central Alberta, with 121 mobile home pads. Penhold, Alberta. Price: $5.7 million.
DEAL | Trinity Place apartments in the Oliver neighbourhood of Edmonton, comprised of 26 units on a 14,983-square-foot lot. 123 Street, Edmonton. Price: $3.46 million.
From | William Wright Commercial, Vancouver. William Wright agent Cory Wright reports:
DEAL | A 1,736-square-foot retail store in Yaletown, with historical zoning. Hamilton Street, Vancouver. Price: $2.96 million.
From | Frontline Real Estate Services, Langley. Frontline agents Mike Harrison and Justin Mitchell sold the following:
DEAL | 2.75-acre residential development land with single-family zoning, including a manufactured home to provide holding income. 208 Street, Langley. Price: $2.38 million.
From | Avison Young Commercial Real Estate, Vancouver. Avison Young agent Chris Wieser brokered the following sale:
DEAL | Two high-rise apartment buildings, The Pines and The Oaks, totaling 166 rental units. Battle Street, Kamloops. Price: $24 million
