Denver-based Allante Properties, LLC has entered the Phoenix investment market with the $8,750,000 purchase of Apex off 7th Street, a seven-building apartment community at 948 E. Devonshire Ave in the heart of Uptown Phoenix.
“This acquisition offered an outstanding opportunity to participate in the renaissance of Uptown Phoenix,” says Bill Hahn, executive vice president of Colliers International in Greater Phoenix. “The area has become increasingly appealing to residential tenants. The influx of creative, new restaurants and retail spaces, as well as the light rail system, have re-positioned Central Phoenix as a 24/7 destination.”
“The property has incredible upside potential because of its strong location,” says Trevor Koskovich, who worked with Hahn to negotiate the transaction. “Very few properties of this size and location caliber are available in the market.”
