phoenix multifamily sales analysis - transwestern · phoenix multifamily sales ... dc ranch...

Phoenix multifamily SaleS analySiStrailing 12 monthS

June 2009 - May 2010

Phoenix Multifamily Sales Analysis

trailing 12 monthS

PROPeRTy ($90K+ / uniT) LOCaTiOn BuiLT uniTS RSF SOLd PRiCe PRiCe/uniT PRiCe/SF BuyeR COMPany SeLLeR COMPany

1 Desert Parks Vista - DC Ranch Scottsdale 2005 202 212,703 06/15/10 $32,600,000 $161,386 $153.27 PASSCO Companies, LLC PB Bell Construction2 The Paragon at Kierland Scottsdale 2000 276 289,368 11/13/09 $34,200,000 $123,913 $118.30 Sunstone Realty Advisors TIAA-CREF3 San Melia Phoenix 1998 488 493,192 10/30/09 $47,824,000 $98,000 $96.97 Investment Property Advisors TIAA-CREF4 Scottsdale Place Scottsdale 2008 74 75,000 11/24/09 $6,850,000 $92,568 $91.33 Petwin Development Capstone5 San Tropez Scottsdale 1989 316 331,548 08/07/09 $29,000,000 $91,772 $87.47 Nevins, Adams, Lewbel & Schell Equity Residential6 San Brisas Chandler 1997 208 210,820 11/13/09 $19,000,000 $91,346 $90.12 Sunstone Realty Advisors TIAA-CREF

PROPeRTy ($80 - 89K / uniT)

1 La Terraza Phoenix 1998 108 123,505 02/16/10 $9,470,000 $87,685 $76.68 Moreno Companies Orion Residential2 Biscayne Bay Chandler 2000 512 542,032 05/13/10 $43,500,000 $84,961 $80.25 Private Portfolio Group LLC Waterton Residential3 Trillium Villas Peoria 2008 340 317,576 03/10/10 $27,500,000 $80,882 $84.02 Weidner Apartment Homes Trillium Residential LLC4 Painted Trails Gilbert 2008 196 187,580 12/01/09 $15,680,000 $80,000 $83.59 Wasatch Property Mgt Fairfield Residential


1 Springs at Alta Mesa Mesa 2000 200 194,904 08/05/09 $15,000,000 $75,000 $76.28 HSL Properties, Inc. Wachovia CorporationPROPeRTy ($60 - 69K / uniT)

1 Indigo Palms Phoenix 2002 432 405,560 07/21/09 $30,000,000 $69,444 $77.75 MIC IP II, LLC SSR Indigo Palms, LLC2 Desert Mirage Gilbert 1998 258 197,252 08/05/09 $17,900,000 $69,380 $66.24 HSL Properties, Inc. Wachovia Corporation3 Portofino Phoenix 1995 81 76,481 02/16/10 $5,400,000 $66,667 $70.61 Moreno Companies Trilogy Real Estate Group4 Monterra Phoenix 2001 258 207,290 05/20/10 $16,650,000 $64,534 $80.32 Weidner Investments Aslan Realty Group5 The Hawthorne (Condos) Phoenix 1996 186 159,646 07/10/09 $12,000,000 $64,516 $74.40 Hawthorne Phoenix Condos, LLC Corus Bank NA6 Casa Santa Fe Scottsdale 1987 264 222,440 12/23/09 $16,000,000 $60,606 $72.48 HSL Properties, Inc. Pricipal Life Insurance Co7 Ridge Gate Phoenix 1999 216 187,968 5/7/2010 $12,960,000 $60,000 $68.95 Nevins, Adams, Lewbel and Schell Verde Investments


1 Orchidtree Apartments Scottsdale 1971 278 212,200 07/02/09 $16,000,000 $57,554 $71.12 Optima, Inc. RAIT Financial Trust2 Montana Apartments Phoenix 1998 134 121,767 08/05/09 $7,600,000 $56,716 $63.02 HSL Properties, Inc. Wachovia Corporation3 Cabrillo Scottsdale 1987 224 187,520 01/29/10 $12,600,000 $56,250 $67.19 HSL Properties, Inc Pricipal Life Insurance Co4 Palm Court Phoenix 1999 256 223,312 02/10/10 $13,696,000 $53,500 $61.33 Pacific Realty Advisors Inland Empire Builders5 Bayside Apartments Phoenix 1999 176 143,952 03/02/10 $9,416,000 $53,500 $64.49 Pacific Realty Advisors River Oaks Apartments LP6 Biltmore Palms Phoenix 1999 80 97,427 08/04/09 $4,000,000 $50,000 $41.06 Condo-Condo Dev Group Corus Bank7 Verona Park Mesa 1981 304 248,244 06/22/10 $15,200,000 $50,000 $61.23 Acacia-Capital Corp. Parkside General Partnership


1 Elliot's Crossing Tempe 1987 247 199,096 03/12/10 $11,850,000 $47,976 $59.51 Slosburg Company Sentinel Realty Advisors Corp2 Argenta Apartments Mesa 1985 395 270,728 06/22/10 $18,150,000 $45,949 $67.04 Acacia-Capital Corp. Parkside General Partnership3 Sage Luxury Homes Mesa 1987 83 66,116 06/15/10 $3,795,000 $45,723 $57.40 SMAC Holdings Inc. (Jerry Luking) VRB Corp (Commerica Bank)4 Morgan Park Phoenix 1987 428 288,656 12/31/09 $18,500,000 $43,224 $64.09 Northwind Properties Ltd. Atherton-Newport Investments5 Wickertree Phoenix 1983 226 154,792 08/20/09 $9,500,000 $42,035 $61.37 MC Companies AIMCO


1 Cedar Court Glendale 1986 116 77,408 01/08/10 $4,600,000 $39,655 $59.43 20/20 Properties WH Pingree Company2 Tesoro Phoenix 1983 150 93,450 12/31/09 $8,000,000 $39,216 $53.87 Adams LaSalle Realty AIMCO 3 Falcon Glen Mesa 1985 402 339,936 04/23/10 $5,225,000 $36,285 $56.44 Rancho Encanto Apt Partners LLC Rancho Encanto 35th Ave LLC4 Redwood Place Phoenix 1984 186 150,348 08/19/09 $14,250,000 $35,448 $41.92 Inco Real Estate Company BRT Funding Corporation5 Crossroads Phoenix 1982 316 202,606 11/03/09 $9,850,000 $31,170 $48.62 Olympus Properties Ambassador VIII, LP


1 Fountain Oaks Phoenix 1983 224 158,832 01/13/10 $6,500,000 $29,018 $40.92 General Electric Credit Equities, Inc Jason D Curry, Tr2 Mission Palms Phoenix 1975 125 10,461 03/19/10 $3,600,000 $28,800 $34.60 Victoria Properties (Ken Matheson) Rundle Investments LTD3 Rosewood Phoenix 1985 52 21,900 02/25/10 $1,286,176 $24,734 $58.72 Rosewood Ventures LLC Parker Miller4 Encanto Park Phoenix 1979 159 70,640 12/11/09 $3,850,000 $24,214 $54.50 Angela Chiang Realty Partners Encanto LLC5 Poco Jardin Phoenix 1983 77 54,945 08/28/09 $1,800,000 $23,377 $33.89 William S Kurohara Dorel & Cucica Muresan6 Highland Park Phoenix 1974 70 52,350 01/25/10 $1,625,000 $23,214 $31.04 Highland Park Enterprises, LLC Antonio & Analuisa Banda7 Palm Crest Phoenix 1986 256 237,111 01/29/10 $5,600,000 $21,875 $23.62 Watermarke Properties, Inc. First Regional Bank 8 Brookview Mesa 1971 158 91,040 05/10/10 $3,250,060 $20,570 $35.70 Chiang Brookview Apartments LLC


1 La Mesa Village Mesa 1986 256 169,895 10/30/09 $5,000,000 $19,531 $29.26 Ennabe Properties Fannie Mae2 Glen Park Glendale 1972 88 74,398 07/13/09 $1,700,000 $19,318 $24.32 ACKK Enterprises Hinshaw & Culbertson, LLP3 Lincoln Village Phoenix 1980 115 88,727 10/30/09 $2,150,000 $18,696 $26.45 Arie de Jong Jr Family Trust PHX Affordable Housing Auth, LLC4 Horizon Phoenix 1985 51 46,206 04/15/10 $950,000 $18,627 $20.56 Myles Bruckal of Canada Arizona Horizons, LLC5 Mission Gardens Phoenix 1963 88 17,640 2/1/2010 $1,625,000 $18,466 $92.12 Mission Garden Apartments, LLC Mission Gardens, LLC6 Augusta Suntree Phoenix 1983 68 50,800 03/29/10 $1,255,500 $18,463 $24.71 720 Silver Street LLC Tom & Louella Oshiro7 Cobble Creek Phoenix 1985 142 93,947 04/07/10 $2,600,000 $18,310 $27.68 W Property Management Liliana Stoianova8 Casa Sonoran Phoenix 1963 67 33,868 07/27/09 $1,225,000 $18,284 $36.17 Coburn Hospitality, Inc. Washington Federal Savings9 La Jolla Court Goodyear 1964 69 54,525 03/15/10 $1,204,000 $17,449 $22.08 Park Shadows Apartments Blue Valley Apartments Inc.

10 Sandalwood Square Phoenix 1967 67 54,415 05/05/10 $1,149,988 $17,164 $21.13 Reilly, Guterbock & DeJong Jr Illinois Cimarron LLC11 Country Club Phoenix 1959 222 138,750 02/12/10 $3,800,000 $17,117 $27.39 CC Arizona Investors LLC Bank of America12 Casa Carranza Mesa 1979 270 138,100 05/10/10 $4,566,240 $16,912 $33.06 Summit Equity Investments Teresi Investments13 The Promenade Phoenix 1985 182 136,500 09/22/09 $3,000,000 $16,484 $21.98 Promenade Estates LLC Promenade Holding Co, LLC14 Missouri Meadows Phoenix 1979 64 42,000 03/24/10 $1,054,000 $16,469 $25.10 Dennis Stearns Missouri Meadows Apts LLC15 Palm Gardens Mesa 1973 96 69,280 06/09/10 $1,550,000 $16,146 $22.37 SK Investments David Winston 16 Papago View Phoenix 1979 50 25,728 05/10/10 $765,000 $15,300 $29.73 Hondo Apartments LLC PTE Real Estate Group LLC17 Stone Ridge Phoenix 1968 61 22,576 06/15/10 $823,500 $13,500 $36.48 Alan Robinson (LLC formed by him) SRA Apartments LLC18 Gibraltar Glendale 1963 56 36,540 04/30/10 $700,000 $12,500 $19.16 Greater Erwin Properties, LLC IMH Assets Corp.19 Chelsey Park Phoenix 1964 58 31,300 01/20/10 $685,000 $11,810 $21.88 Singh Properties LLC (Sarabjit Singh) Creative Commercial Investments LLC20 Camelback Vista Phoenix 1978 201 95,534 12/02/09 $2,200,000 $10,945 $18.86 LB & LB Partners, LLC La Jolla Bank Fsb21 Sans Souci Phoenix 1978 181 69,900 05/15/10 $2,000,000 $11,050 $28.61 Belleview Communities Orion/Robson Sans Souci, LLC


1 Due South Phoenix 1986 128 58,944 03/05/10 $1,100,000 $8,594 $18.66 David Amce Land Holding LLC2 Seville Gardens Phoenix 1977 180 94,500 05/10/10 $1,249,920 $6,944 $13.23 PHX Affordable Housing Authority LLC DJS Seville G LLC

09

AVERAGE SALE PRICE/SF

04 05 06 07 08 10

50

0

100

150

THOUSAND US$

AVERAGE SALE PRICE/UNIT

1004 05 06 07 08 09

THOUSAND US$

0

20

40

60

80

100

TOTAL DOLLAR VOLUME

1004 05 06 07 08 09

BILLION US$

0

1

2

3

4

5

Trailing 12-Months Multifamily Sales 50+ Units GroUped by price per UniT

Multifamily investmentMarket


trailing 12 monthS

PROPeRTy ($90K+ / uniT) LOCaTiOn BuiLT uniTS RSF SOLd PRiCe PRiCe/uniT PRiCe/SF BuyeR COMPany SeLLeR COMPany

1 Desert Parks Vista - DC Ranch Scottsdale 2005 202 212,703 06/15/10 $32,600,000 $161,386 $153.27 PASSCO Companies, LLC PB Bell Construction2 The Paragon at Kierland Scottsdale 2000 276 289,368 11/13/09 $34,200,000 $123,913 $118.30 Sunstone Realty Advisors TIAA-CREF3 San Melia Phoenix 1998 488 493,192 10/30/09 $47,824,000 $98,000 $96.97 Investment Property Advisors TIAA-CREF4 Scottsdale Place Scottsdale 2008 74 75,000 11/24/09 $6,850,000 $92,568 $91.33 Petwin Development Capstone5 San Tropez Scottsdale 1989 316 331,548 08/07/09 $29,000,000 $91,772 $87.47 Nevins, Adams, Lewbel & Schell Equity Residential6 San Brisas Chandler 1997 208 210,820 11/13/09 $19,000,000 $91,346 $90.12 Sunstone Realty Advisors TIAA-CREF


1 La Terraza Phoenix 1998 108 123,505 02/16/10 $9,470,000 $87,685 $76.68 Moreno Companies Orion Residential2 Biscayne Bay Chandler 2000 512 542,032 05/13/10 $43,500,000 $84,961 $80.25 Private Portfolio Group LLC Waterton Residential3 Trillium Villas Peoria 2008 340 317,576 03/10/10 $27,500,000 $80,882 $84.02 Weidner Apartment Homes Trillium Residential LLC4 Painted Trails Gilbert 2008 196 187,580 12/01/09 $15,680,000 $80,000 $83.59 Wasatch Property Mgt Fairfield Residential


1 Springs at Alta Mesa Mesa 2000 200 194,904 08/05/09 $15,000,000 $75,000 $76.28 HSL Properties, Inc. Wachovia CorporationPROPeRTy ($60 - 69K / uniT)

1 Indigo Palms Phoenix 2002 432 405,560 07/21/09 $30,000,000 $69,444 $77.75 MIC IP II, LLC SSR Indigo Palms, LLC2 Desert Mirage Gilbert 1998 258 197,252 08/05/09 $17,900,000 $69,380 $66.24 HSL Properties, Inc. Wachovia Corporation3 Portofino Phoenix 1995 81 76,481 02/16/10 $5,400,000 $66,667 $70.61 Moreno Companies Trilogy Real Estate Group4 Monterra Phoenix 2001 258 207,290 05/20/10 $16,650,000 $64,534 $80.32 Weidner Investments Aslan Realty Group5 The Hawthorne (Condos) Phoenix 1996 186 159,646 07/10/09 $12,000,000 $64,516 $74.40 Hawthorne Phoenix Condos, LLC Corus Bank NA6 Casa Santa Fe Scottsdale 1987 264 222,440 12/23/09 $16,000,000 $60,606 $72.48 HSL Properties, Inc. Pricipal Life Insurance Co7 Ridge Gate Phoenix 1999 216 187,968 5/7/2010 $12,960,000 $60,000 $68.95 Nevins, Adams, Lewbel and Schell Verde Investments


1 Orchidtree Apartments Scottsdale 1971 278 212,200 07/02/09 $16,000,000 $57,554 $71.12 Optima, Inc. RAIT Financial Trust2 Montana Apartments Phoenix 1998 134 121,767 08/05/09 $7,600,000 $56,716 $63.02 HSL Properties, Inc. Wachovia Corporation3 Cabrillo Scottsdale 1987 224 187,520 01/29/10 $12,600,000 $56,250 $67.19 HSL Properties, Inc Pricipal Life Insurance Co4 Palm Court Phoenix 1999 256 223,312 02/10/10 $13,696,000 $53,500 $61.33 Pacific Realty Advisors Inland Empire Builders5 Bayside Apartments Phoenix 1999 176 143,952 03/02/10 $9,416,000 $53,500 $64.49 Pacific Realty Advisors River Oaks Apartments LP6 Biltmore Palms Phoenix 1999 80 97,427 08/04/09 $4,000,000 $50,000 $41.06 Condo-Condo Dev Group Corus Bank7 Verona Park Mesa 1981 304 248,244 06/22/10 $15,200,000 $50,000 $61.23 Acacia-Capital Corp. Parkside General Partnership


1 Elliot's Crossing Tempe 1987 247 199,096 03/12/10 $11,850,000 $47,976 $59.51 Slosburg Company Sentinel Realty Advisors Corp2 Argenta Apartments Mesa 1985 395 270,728 06/22/10 $18,150,000 $45,949 $67.04 Acacia-Capital Corp. Parkside General Partnership3 Sage Luxury Homes Mesa 1987 83 66,116 06/15/10 $3,795,000 $45,723 $57.40 SMAC Holdings Inc. (Jerry Luking) VRB Corp (Commerica Bank)4 Morgan Park Phoenix 1987 428 288,656 12/31/09 $18,500,000 $43,224 $64.09 Northwind Properties Ltd. Atherton-Newport Investments5 Wickertree Phoenix 1983 226 154,792 08/20/09 $9,500,000 $42,035 $61.37 MC Companies AIMCO


1 Cedar Court Glendale 1986 116 77,408 01/08/10 $4,600,000 $39,655 $59.43 20/20 Properties WH Pingree Company2 Tesoro Phoenix 1983 150 93,450 12/31/09 $8,000,000 $39,216 $53.87 Adams LaSalle Realty AIMCO 3 Falcon Glen Mesa 1985 402 339,936 04/23/10 $5,225,000 $36,285 $56.44 Rancho Encanto Apt Partners LLC Rancho Encanto 35th Ave LLC4 Redwood Place Phoenix 1984 186 150,348 08/19/09 $14,250,000 $35,448 $41.92 Inco Real Estate Company BRT Funding Corporation5 Crossroads Phoenix 1982 316 202,606 11/03/09 $9,850,000 $31,170 $48.62 Olympus Properties Ambassador VIII, LP


1 Fountain Oaks Phoenix 1983 224 158,832 01/13/10 $6,500,000 $29,018 $40.92 General Electric Credit Equities, Inc Jason D Curry, Tr2 Mission Palms Phoenix 1975 125 10,461 03/19/10 $3,600,000 $28,800 $34.60 Victoria Properties (Ken Matheson) Rundle Investments LTD3 Rosewood Phoenix 1985 52 21,900 02/25/10 $1,286,176 $24,734 $58.72 Rosewood Ventures LLC Parker Miller4 Encanto Park Phoenix 1979 159 70,640 12/11/09 $3,850,000 $24,214 $54.50 Angela Chiang Realty Partners Encanto LLC5 Poco Jardin Phoenix 1983 77 54,945 08/28/09 $1,800,000 $23,377 $33.89 William S Kurohara Dorel & Cucica Muresan6 Highland Park Phoenix 1974 70 52,350 01/25/10 $1,625,000 $23,214 $31.04 Highland Park Enterprises, LLC Antonio & Analuisa Banda7 Palm Crest Phoenix 1986 256 237,111 01/29/10 $5,600,000 $21,875 $23.62 Watermarke Properties, Inc. First Regional Bank 8 Brookview Mesa 1971 158 91,040 05/10/10 $3,250,060 $20,570 $35.70 Chiang Brookview Apartments LLC


1 La Mesa Village Mesa 1986 256 169,895 10/30/09 $5,000,000 $19,531 $29.26 Ennabe Properties Fannie Mae2 Glen Park Glendale 1972 88 74,398 07/13/09 $1,700,000 $19,318 $24.32 ACKK Enterprises Hinshaw & Culbertson, LLP3 Lincoln Village Phoenix 1980 115 88,727 10/30/09 $2,150,000 $18,696 $26.45 Arie de Jong Jr Family Trust PHX Affordable Housing Auth, LLC4 Horizon Phoenix 1985 51 46,206 04/15/10 $950,000 $18,627 $20.56 Myles Bruckal of Canada Arizona Horizons, LLC5 Mission Gardens Phoenix 1963 88 17,640 2/1/2010 $1,625,000 $18,466 $92.12 Mission Garden Apartments, LLC Mission Gardens, LLC6 Augusta Suntree Phoenix 1983 68 50,800 03/29/10 $1,255,500 $18,463 $24.71 720 Silver Street LLC Tom & Louella Oshiro7 Cobble Creek Phoenix 1985 142 93,947 04/07/10 $2,600,000 $18,310 $27.68 W Property Management Liliana Stoianova8 Casa Sonoran Phoenix 1963 67 33,868 07/27/09 $1,225,000 $18,284 $36.17 Coburn Hospitality, Inc. Washington Federal Savings9 La Jolla Court Goodyear 1964 69 54,525 03/15/10 $1,204,000 $17,449 $22.08 Park Shadows Apartments Blue Valley Apartments Inc.

10 Sandalwood Square Phoenix 1967 67 54,415 05/05/10 $1,149,988 $17,164 $21.13 Reilly, Guterbock & DeJong Jr Illinois Cimarron LLC11 Country Club Phoenix 1959 222 138,750 02/12/10 $3,800,000 $17,117 $27.39 CC Arizona Investors LLC Bank of America12 Casa Carranza Mesa 1979 270 138,100 05/10/10 $4,566,240 $16,912 $33.06 Summit Equity Investments Teresi Investments13 The Promenade Phoenix 1985 182 136,500 09/22/09 $3,000,000 $16,484 $21.98 Promenade Estates LLC Promenade Holding Co, LLC14 Missouri Meadows Phoenix 1979 64 42,000 03/24/10 $1,054,000 $16,469 $25.10 Dennis Stearns Missouri Meadows Apts LLC15 Palm Gardens Mesa 1973 96 69,280 06/09/10 $1,550,000 $16,146 $22.37 SK Investments David Winston 16 Papago View Phoenix 1979 50 25,728 05/10/10 $765,000 $15,300 $29.73 Hondo Apartments LLC PTE Real Estate Group LLC17 Stone Ridge Phoenix 1968 61 22,576 06/15/10 $823,500 $13,500 $36.48 Alan Robinson (LLC formed by him) SRA Apartments LLC18 Gibraltar Glendale 1963 56 36,540 04/30/10 $700,000 $12,500 $19.16 Greater Erwin Properties, LLC IMH Assets Corp.19 Chelsey Park Phoenix 1964 58 31,300 01/20/10 $685,000 $11,810 $21.88 Singh Properties LLC (Sarabjit Singh) Creative Commercial Investments LLC20 Camelback Vista Phoenix 1978 201 95,534 12/02/09 $2,200,000 $10,945 $18.86 LB & LB Partners, LLC La Jolla Bank Fsb21 Sans Souci Phoenix 1978 181 69,900 05/15/10 $2,000,000 $11,050 $28.61 Belleview Communities Orion/Robson Sans Souci, LLC


1 Due South Phoenix 1986 128 58,944 03/05/10 $1,100,000 $8,594 $18.66 David Amce Land Holding LLC2 Seville Gardens Phoenix 1977 180 94,500 05/10/10 $1,249,920 $6,944 $13.23 PHX Affordable Housing Authority LLC DJS Seville G LLC

143

153

101

101

202

202

202

17

17

17

17

17

101

101

101

17

17

202202

101

101

74

74

74

74

303

303

85

85

85

93

347

347

87

87

87

587

188

188

188

87

87

87

79

79

CAVE BUTTESRECREATION AREA

Kierland

USERY MOUNTAIN RECREATION AREA

MCDOWELLMOUNTAINREGIONAL

PARK

BLACKMOUNTAIN

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W HAPPY VALLEY RD

W DIXILETA PKWY

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W INDIAN SCHOOL RD

W CAMELBACK RD W CAMELBACK RD E CAMELBACK RD

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SU

N V

ALL

EY

PK

WY

SUN VALLEY PKWY

W SOUTHERN AVE

N 1

6T

H S

T

E JOMAX RD

W ANTHEM WA

Y

N 7

TH

ST

E JOY RANCH RD

E CLOUD RD

W BUCKEYE RD

S 3

39

TH

AV

E

S 3

31

ST

AV

E

W BROADWAY RD

W DOBBINS RD

W BASELINE RD

W J

OH

NS

ON

RD W YUMA RD

W TONOPAH SALOME HWY

W INDIAN SCHOOL RD

S A

RLI

NG

TO

N S

CH

OO

L R

D OLD US H

WY 80

KOMATKE RDE

NTE

RP

RISE

RD

W PATTERSON RD

W NARRAMORE RD

W HAZEN RD

W LOWER RIVER RD

W BROADWAY RD

OLD US HWY 80

S T

UR

NE

R R

D

S W

ILS

ON

ST

S 3

51

ST

AV

E

S T

UR

NE

R R

D

N 3

07

TH

AV

E

N 3

31

ST

AV

E

N 2

93

RD

AV

E

W LONE MTN RD

N 3

39

TH

AV

E

W WINDSTONE TR

W CAREFREE HWY

N 2

43

RD

AV

E

N 2

59

TH

AV

E

N 2

11

TH

AV

E

N 2

19

TH

AV

E

N 1

95

TH

AV

E

W NORTHERN AVE

S R

OO

KS

RD

S M

ILLE

R R

D

S W

AT

SO

N R

D

S R

AIN

BO

W R

D

S A

IRP

OR

T R

D

POW

ER LINE RD

N 1

07

TH

AV

E

N 9

1S

T A

VE

W ESTRELLA DR

W ELLIOT DR

W PECOS RD

W DOBBINS RD

E SOUTHERN AVE

N G

ILB

ER

T R

D N V

AL

VIS

TA D

R

N H

IGLE

Y R

D

E GERMANN RD

E RIGGS RD

E OCOTILO RD

E RIGGS RD E COMBS RD

N P

OW

ER

RO

AD

S L

IND

SA

Y R

D

S M

ER

IDIA

N R

OA

D

N I

RO

NW

OO

D D

RIV

E

S R

EC

KE

R R

D

E JUDD RD

E BELLA VISTA RD

E ROBERTS RD

E HU

NT H

WY

E ARIZONA FARMS RD

E A

TTA

WA

Y R

D

E T

HO

MP

SO

N R

D

E G

AR

Y R

D

N S

IER

RA

VIS

TA D

R

N BUSH HWY

N B

US

H H

WY

N F

OR

T M

CD

OW

ELL

RD

N M

CD

OW

ELL

MT

N R

D

E RIO VERDE DR

E LONE MOUNTAIN RD

N 1

18

TH

ST

N 1

44

TH

ST

N 1

68

TH

ST

N A

LMA

SC

HO

OL

RD

N D

OB

SO

N R

D

LUKEAIR FORCE

BASEGLENDALEMUNICIPAL

AIRPORT

CHANDLERMUNICIPAL

AIRPORT

PHOENIX MESAGATEWAY AIRPORT

FALCONFIELD

AIRPORT

SCOTTSDALEAIRPORT

PHOENIXDEER VALLEY

AIRPORT

PHOENIXSKY HARBOR

INT’L AIRPORTPHOENIX

GOODYEARAIRPORT

STELLARAIRPARK

BUCKEYEMUNICIPAL

AIRPORT

PEORIA

GLENDALE

SUN CITY WEST

SUN CITY

SURPRISE

PHOENIX

AVONDALE

GOODYEAR

CAVECREEK

CAREFREE

ANTHEM

PARADISEVALLEY

SCOTTSDALE

TEMPEMESA

GILBERT

CHANDLER

HIGLEY

APACHEJUNCTION

NEW RIVER

FOUNTAINHILLS

PROPeRTy ($90K+ / uniT) uniTS PRiCe/uniT

1 Desert Parks Vista - DC Ranch 202 $161,3862 The Paragon at Kierland 276 $123,9133 San Melia 488 $98,0004 Scottsdale Place 74 $92,5685 San Tropez 316 $91,7726 San Brisas 208 $91,346


1 La Terraza 108 $87,6852 Biscayne Bay 512 $84,9613 Trillium Villas 340 $80,8824 Painted Trails 196 $80,000


1 Springs at Alta Mesa 200 $75,000PROPeRTy ($60 - 69K / uniT)

1 Indigo Palms 432 $69,4442 Desert Mirage 258 $69,3803 Portofino 81 $66,6674 Monterra 258 $64,5345 The Hawthorne (Condos) 186 $64,5166 Casa Santa Fe 264 $60,6067 Ridge Gate 216 $60,000


1 Orchidtree Apartments 278 $57,5542 Montana Apartments 134 $56,7163 Cabrillo 224 $56,2504 Palm Court 256 $53,5005 Bayside Apartments 176 $53,5006 Biltmore Palms 80 $50,0007 Verona Park 304 $50,000


1 Elliot's Crossing 247 $47,9762 Argenta Apartments 395 $45,9493 Sage Luxury Homes 83 $45,7234 Morgan Park 428 $43,2245 Wickertree 226 $42,035


1 Cedar Court 116 $39,6552 Tesoro 150 $39,2163 Falcon Glen 402 $36,2854 Redwood Place 186 $35,4485 Crossroads 316 $31,170


1 Fountain Oaks 224 $29,0182 Mission Palms 125 $28,8003 Rosewood 52 $24,7344 Encanto Park 159 $24,2145 Poco Jardin 77 $23,3776 Highland Park 70 $23,2147 Palm Crest 256 $21,8758 Brookview 158 $20,570


1 La Mesa Village 256 $19,5312 Glen Park 88 $19,3183 Lincoln Village 115 $18,6964 Horizon 51 $18,6275 Mission Gardens 88 $18,4666 Augusta Suntree 68 $18,4637 Cobble Creek 142 $18,3108 Casa Sonoran 67 $18,2849 La Jolla Court 69 $17,449

10 Sandalwood Square 67 $17,16411 Country Club 222 $17,11712 Casa Carranza 270 $16,91213 The Promenade 182 $16,48414 Missouri Meadows 64 $16,46915 Palm Gardens 96 $16,14616 Papago View 50 $15,30017 Stone Ridge 61 $13,50018 Gibraltar 56 $12,50019 Chelsey Park 58 $11,81020 Camelback Vista 201 $10,94521 Sans Souci 181 $11,050


1 Due South 128 $8,5942 Seville Gardens 180 $6,944

7

2

21

3

2

14

13

4

4

5

2

1

3

5 4

4

5

6

75

67

9

1920

18

10

143

153

101

101

202

202

202

17

17

17

17

17

101

101

101

17

17

202202

101

101

74

74

74

74

303

303

85

85

85

93

347

347

87

87

87

587

188

188

188

87

87

87

79

79

CAVE BUTTESRECREATION AREA

Kierland

USERY MOUNTAIN RECREATION AREA

MCDOWELLMOUNTAINREGIONAL

PARK

BLACKMOUNTAIN

SUMMITPARK

CAVE CREEKRECREATION AREA

REACH 11RECREATION

AREA

PAPAGOPARK

NORTHMOUNTAIN

PARK

PHOENIXMOUNTAINS

PRESERVE

SOUTHMOUNTAIN PARK

BUCKEYE HILLSRETIONAL PARK

ADOBEDAM

RECREATIONAREA

THUNDERBIRDPARK

BLACK CANYONSHOOTING RANGE

ESTRELLAMOUNTAIN PARK

WHITETANK MOUNTAINREGIONAL PARK

CAMELBACKMOUNTAIN

RECREATIONAREA

SAN TANMOUNTAINREGIONAL

PARK

HOHOKAMPIMA NATIONAL

MONUMENT


MONUMENT


MONUMENT

LAKEPLEASANT

PARK

E MAIN ST

S M

CQ

UE

EN

RD

W DEER VALLEY RDW DEER VALLEY RD

W HAPPY VALLEY RD

W DIXILETA PKWY

N 2

11

TH

AV

E

N N

EW R

IVER

RD

N N

EW R

IVER

RD

W INDIAN SCHOOL RD

W CAMELBACK RD W CAMELBACK RD E CAMELBACK RD

W VAN BUREN ST

W YUMA RD

W INDIAN SCHOOL RD

W THOMAS RD E THOMAS RD

N BEELINE HWY

N BEELIN

E HW

Y

W BROADWAY RD

W BELOAT RD

W SOUTHERN AVE

E MCDOWELL RD E MCDOWELL RD

N P

IMA

RD

W VAN BUREN ST

S P

RIE

ST

DR

S M

ILL

AV

E

E APACHE BLVDW OLD WEST HWY

W LOWER BUCKEYE RD

W BUCKEYE RD E BUCKEYE RD

W JEFFERSON STW WASHINGTON ST

N 7

TH

AV

E

N C

EN

TR

AL

AV

E

S 7

TH

ST

N 7

TH

ST

W HAPPY VALLEY RD

S 6

7T

H A

VE

N 8

3R

D A

VE

N 9

1S

T A

VE

N 1

07

TH

AV

E

N 1

11

TH

AV

E

AV

ON

DA

LE B

LVD

N L

ITC

HF

IELD

RD

N E

L M

IRA

GE

RD

N R

EE

MS

RD

W GLENDALE AVEW GLENDALE AVE

N 2

4T

H S

T

N 4

4T

H S

T

N 3

2N

D S

T

S 2

4T

H S

T

N 1

9T

H A

VE

S 1

9T

H A

VE

N 1

9T

H A

VE

W GRAN

D AVE

W GRAND AVE

W GRAND AVE

N T

AT

UM

BLV

D

E MCDONALD DR

INDIAN BEND RD

E CHAPARRAL RD

E UNIVERSITY DR W SUPERSTITION BLVD

E LINCOLN DR

N 5

1S

T A

VE

E BROADWAY RD E BROADWAY RD

N S

CH

NE

PT

RD

E SOUTHERN AVE

E BASELINE RD

E SOUTHERN AVE

W BROADWAY RD

S R

UR

AL

RD

N S

CO

TT

SD

ALE

RD

N S

CO

TT

SD

ALE

RD

E BASELINE RDW BASELINE RD

S A

RIZ

ON

A A

VE

N C

OU

NT

RY

CLU

B D

R

W RAY RD

W CHANDLER BLVD

E OCOTILO RD

E CHANDLER HEIGHTS RD

W QUEEN CREEK RD

E HUNT HWY

E WILLIAMS FIELD RD

S D

OB

SO

N R

D

S M

CC

LIN

TO

CK

DR

N H

AY

DE

N R

D

E CACTUS RD

W WARNER RDW WARNER RD

W ELLIOT RD

W GUADALUPE RD

E BELL RD

W UNION HILLS DR

W BEARDSLEY RD

W PINNACLE PEAK RDW PINNACLE PEAK RD

E DYNAMITE BLVD

E LONE MOUNTAIN RD

E C

AV

E C

REE

K R

D

W BELL RD

E GREENWAY PKYW GREENWAY PKY

N P

IMA

RD

E THUNDERBIRD RD

E SHEA BLVD

W THUNDERBIRD RD W THUNDERBIRD RD

N 6

4T

H S

T

N 5

6T

H S

T

N 1

6T

H S

T

S A

LMA

SC

HO

OL

RD

S C

OO

PE

R R

D

S G

ILB

ER

T R

D

S P

OW

ER

RO

AD

S S

OS

SA

MA

N R

OA

D

S E

LLS

WO

RT

H R

DN

ELL

SW

OR

TH

RD

N S

IGN

AL

BU

TT

E R

OA

D

S I

RO

NW

OO

D D

RIV

E

N Q

UA

IL R

D L

N

E SKYLINE DR

S H

ILG

LEY

RD

S C

OO

PE

R R

D

N 3

5T

H A

VE

S 3

5T

H A

VE

N 4

3R

D A

VE

BROWN RD

N APA

CHE TRAIL

E MCKELLIPS ROAD

E PECOS RD

W OLIVE RDW DUNLAP AVE

W PEORIA AVE

W CACTUS RD

SU

N V

ALL

EY

PK

WY

N 2

03

AV

E

N 1

87

TH

AV

E

W PATTON RD

W DOVE VALLEY RD

S C

OT

TO

N L

N

S E

ST

RE

LLA

PK

WY

W CAREFREE HWY

W DOVE VALLEY RD

W LONE MOUNTAIN PKWY

W DIXILETA PKWY

N 1

67

TH

AV

E

W CAREFREE HWY

E CAREFREE HWY

N 6

7T

H A

VE

W DOVE VALLEY RD

W JOMAX RD

W PATTON RD

W JOMAX RD

W CAREFREE HWY

W BELL RD

W MCDOWELL RD

S 5

1S

T A

VE

W BASELINE RD

N C

OT

TO

N L

NN

CO

TT

ON

LN

N C

ITR

US

RD

N C

ITR

US

RD

S C

ITR

US

RD

N D

YS

AR

T R

D

S J

AC

KR

AB

BIT

TR

SU

N V

ALL

EY

PK

WY

SUN VALLEY PKWY

W SOUTHERN AVE

N 1

6T

H S

TE JOMAX RD

W ANTHEM WA

Y

N 7

TH

ST

E JOY RANCH RD

E CLOUD RD

W BUCKEYE RD

S 3

39

TH

AV

E

S 3

31

ST

AV

E

W BROADWAY RD

W DOBBINS RD

W BASELINE RD

W J

OH

NS

ON

RD W YUMA RD

W TONOPAH SALOME HWY

W INDIAN SCHOOL RD

S A

RLI

NG

TO

N S

CH

OO

L R

D OLD US H

WY 80

KOMATKE RD

EN

TER

PR

ISE R

D

W PATTERSON RD

W NARRAMORE RD

W HAZEN RD

W LOWER RIVER RD

W BROADWAY RD

OLD US HWY 80

S T

UR

NE

R R

D

S W

ILS

ON

ST

S 3

51

ST

AV

E

S T

UR

NE

R R

D

N 3

07

TH

AV

E

N 3

31

ST

AV

E

N 2

93

RD

AV

E

W LONE MTN RD

N 3

39

TH

AV

E

W WINDSTONE TR

W CAREFREE HWY

N 2

43

RD

AV

E

N 2

59

TH

AV

E

N 2

11

TH

AV

E

N 2

19

TH

AV

E

N 1

95

TH

AV

E

W NORTHERN AVE

S R

OO

KS

RD

S M

ILLE

R R

D

S W

AT

SO

N R

D

S R

AIN

BO

W R

D

S A

IRP

OR

T R

D

POW

ER LINE RD

N 1

07

TH

AV

E

N 9

1S

T A

VE

W ESTRELLA DR

W ELLIOT DR

W PECOS RD

W DOBBINS RD

E SOUTHERN AVE

N G

ILB

ER

T R

D N V

AL

VIS

TA D

R

N H

IGLE

Y R

D

E GERMANN RD

E RIGGS RD

E OCOTILO RD

E RIGGS RD E COMBS RD

N P

OW

ER

RO

AD

S L

IND

SA

Y R

D

S M

ER

IDIA

N R

OA

D

N I

RO

NW

OO

D D

RIV

E

S R

EC

KE

R R

D

E JUDD RD

E BELLA VISTA RD

E ROBERTS RD

E HU

NT H

WY

E ARIZONA FARMS RD

E A

TTA

WA

Y R

D

E T

HO

MP

SO

N R

D

E G

AR

Y R

D

N S

IER

RA

VIS

TA D

R

N BUSH HWY

N B

US

H H

WY

N F

OR

T M

CD

OW

ELL

RD

N M

CD

OW

ELL

MT

N R

D

E RIO VERDE DR

E LONE MOUNTAIN RD

N 1

18

TH

ST

N 1

44

TH

ST

N 1

68

TH

ST

N A

LMA

SC

HO

OL

RD

N D

OB

SO

N R

D

LUKEAIR FORCE

BASEGLENDALEMUNICIPAL

AIRPORT

CHANDLERMUNICIPAL

AIRPORT

PHOENIX MESAGATEWAY AIRPORT

FALCONFIELD

AIRPORT

SCOTTSDALEAIRPORT

PHOENIXDEER VALLEY

AIRPORT

PHOENIXSKY HARBOR

INT’L AIRPORTPHOENIX

GOODYEARAIRPORT

STELLARAIRPARK

BUCKEYEMUNICIPAL

AIRPORT

PEORIA

GLENDALE

SUN CITY WEST

SUN CITY

SURPRISE

PHOENIX

AVONDALE

GOODYEAR

CAVECREEK

CAREFREE

ANTHEM

PARADISEVALLEY

SCOTTSDALE

TEMPEMESA

GILBERT

CHANDLER

HIGLEY

APACHEJUNCTION

NEW RIVER

FOUNTAINHILLS

5

1

3

2

2

1

3

11

8

4

1

1

15

17

16

5

2

3 6

1

1

2

3

4

4

4

5

6

6

3

1

7

1

2

3

2

8

12

1

2000 SaLeS 2001 SaLeS 2002 SaLeS 2003 SaLeS 2004 SaLeS

yeaR BuiLT SOLd $/uniT $/SF SOLd $/uniT $/SF SOLd $/uniT $/SF SOLd $/uniT $/SF SOLd $/uniT $/SF

1960 - 1969 Avg 5 $26,517 $42 9 $40,783 $54 8 $31,619 $48 4 $42,655 $57 12 $41,522 $55

1970 - 1979 Avg 27 $35,755 $54 16 $34,383 $43 24 $35,573 $50 25 $37,402 $48 31 $41,376 $60

1980 - 1989 Avg 43 $37,695 $53 41 $42,231 $55 29 $35,633 $49 61 $37,932 $52 74 $45,867 $59

1990 - 1999 Avg 13 $73,547 $75 11 $81,181 $82 6 $77,513 $77 8 $73,768 $76 10 $79,051 $84

2000 - 2010 Avg 0 - - 7 $79,210 $76 7 $83,064 $89 10 $84,084 $87 23 $90,427 $93

Total / Average 88 $41,761 $56 84 $48,763 $58 74 $43,062 $55 108 $44,912 $56 150 $53,636 $66

AVERAGE PRICE PER UNIT2000 - 2010 SALESTHOUSAND US$

Built: 2000 - 2010 Built: 1990 - 1999 Built: 1980 - 1989 Built: 1970 - 1979 Built: 1960 - 1969

00 01 02 03 04 05 06 07 08 09 10

$20K

$40K

$60K

$80K

$100K

$120K

$140K

$0K


trailing 12 monthS

Multifamily Sales Statistics 2000 - 201050+ UniTS bUilT Since 1960

2005 SaLeS 2006 SaLeS 2007 SaLeS 2008 SaLeS 2009 SaLeS 2010 SaLeS

SOLd $/uniT $/SF SOLd $/uniT $/SF SOLd $/uniT $/SF SOLd $/uniT $/SF SOLd $/uniT $/SF SOLd $/uniT $/SF

17 $50,688 $64 10 $57,030 $79 9 $65,971 $91 3 $47,631 $70 2 $13,246 $25 5 $15,478 $21

54 $45,005 $63 40 $54,300 $77 30 $64,827 $89 7 $60,840 $92 7 $22,158 $32 10 $17,129 $29

117 $55,083 $72 104 $70,084 $92 64 $72,483 $97 8 $59,255 $83 16 $41,116 $49 18 $31,167 $44

22 $112,678 $113 23 $117,429 $119 17 $122,615 $135 5 $114,957 $118 7 $77,847 $78 5 $64,271 $69

29 $99,448 $105 27 $118,679 $125 22 $128,366 $137 6 $122,721 $124 10 $82,848 $86 4 $97,978 $101

239 $63,178 $77 204 $78,119 $96 142 $85,112 $106 29 $81,170 $98 42 $52,687 $59 42 $36,261 $46

$120

AVERAGE PRICE PER SF2000 - 2010 SALESTEN US$

Built: 2000 - 2010 Built: 1990 - 1999 Built: 1980 - 1989 Built: 1970 - 1979 Built: 1960 - 1969

$20

$40

$60

$80

$160

00 01 02 03 04 05 06 07 08 09 10

$100

$120


trailing 12 monthS

For More inForMATion

Jack HannumVice [email protected]

bret ZinnVice [email protected]

T 602.956.5000 F 602.956.5333www.transwestern.net

2415 East Camelback Road, Suite 520Phoenix, Arizona 85016

Copyright © 2010 Transwestern. All rights reserved. No part of this work may be reproduced or distributed to third parties without written permission of the copyright owner. The information contained in this report was gathered by Transwestern from CoStar and other primary and secondary sources believed to be reliable. Transwestern, however, makes no representation concerning the accuracy or completeness of such information and expressly disclaims any responsibility for any inaccuracy contained herein. 10-1042. 1007.

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