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| Level at Sixteenth Apartments, 1550 East Campbell Avenue, Phoenix, AZ |
PHOENIX, AZ –
Institutional Property Advisors (IPA), a division of Marcus & Millichap
serving the needs of institutional and major private real estate investors, has
arranged the sale of Level at Sixteenth, a
240-unit apartment complex located on more than four acres at 1550 East Campbell
Ave. in Phoenix. The terms of sale were not released.
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| Steve Gebing |
The seller, Cornerstone Real
Estate Advisers, on behalf of a Cornerstone-managed fund, was advised by IPA
senior director Steve Gebing and Marcus
& Millichap vice president investments Cliff David.
“Level at Sixteenth was
developed by Alliance Residential Co. in 2010 on a site previously occupied by
a 1950s-era strip mall, marking a new era of redevelopment that has transformed
the area,” says Gebing.
“The property is adjacent
to the city’s prominent Biltmore Quarter, and its proximity to the Central
Avenue office corridor provides residents with direct access to the greatest
concentration of employment in Arizona.”
Level at Sixteenth offers
20 floor plans and studio, one- and two-bedroom apartment homes. Interiors
feature mountain or downtown city views, wood-style flooring throughout
kitchen, bath, living and dining rooms, and deluxe appliance packages.
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| Cliff David |
Private laundry quarters are also featured in
each home, along with multi-media access pre-wiring throughout.
Select apartment homes
also have private enclosed sunrooms with French doors, spiral staircases to
open lofts with 18-foot ceilings, exposed duct work and soaking tubs.
Community amenities
include gated controlled access entry, a clubhouse with lounge and kitchen, a
two-story, fully appointed athletic center with virtual personal training
programs, outdoor ramada lounge with Wi-Fi connectivity, 100-inch multi-media
video wall and billiard table, resort-inspired pool and Jacuzzi with water
feature and temperature-controlled interior corridors.
There is also a reserved
underground parking garage and 56 private attached garages.
For a complete
copy of the company’s news release, please contact:
Gina Relva
Public Relations Manager
(925) 953-1716
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