The Revival Biltmore apartment community has traded hands for $31.25 million. The property is located in one of the most popular submarkets in Phoenix, where rents last years increased more than 10%.

The garden-style community offers studio, one-, two- and three-bedroom units with modern amenities such as upgraded cabinets, flooring, and fixtures and stainless-steel appliances.

Brian Smuckler, Jeff Seaman, Derek Smigiel and Bryson Fricke of CBRE in Phoenix represented the buyer and the seller in the transaction.

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Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.

Phoenix
Multifamily
Capital Markets