PHOENIX—Berkadia Commercial Mortgage LLC announced today the sale of Esteban Park, located at 5611 S. 32nd St. in Phoenix. The multifamily asset sold for $20.7 million. The seller was Esteban Park Apartments LLC of Scottsdale; the buyer was Carlibach LP of Mill Valley, CA.

PHOENIX—Colliers International in Greater Phoenix recently completed the sale of Promenade at Desert Sky, a 300-unit, class B apartment complex in Phoenix, for $11.85 million, or $39,500 per unit. Desert Sky Estates, LLC, of Woodmere, NY, purchased the property, at 6233 W. Thomas Road, from WT Promenade LLC of Englewood, CO.

PHOENIX—8388 Hartford LLC, managed by HomeSmart founder Matt Widdows, purchased a 66,800-square-foot office building in the Perimeter Center Scottsdale located at 8388 E. Hartford Dr.

PHOENIX—Luxury, sustainable condominiums are slated to hit the market in Scottsdale when The Sterling Collection at Silverleaf launches sales in early November at the $350 million development, one of the largest luxury residential projects in the Southwest. The condos are located at Thompson Peak Parkway and Legacy Drive.

PHOENIX—Colliers International in Greater Phoenix recently negotiated a multi-year 24,896-square-foot office lease at the Chandler Corporate Center.

PHOENIX—Maximizing the value of a hotel asset and increasing investment return with a comprehensive analysis of location, competition, hotel segment, renovations and cost is crucial in the industry. The Clear Path to Property Repositioning session at The Lodging Conference, held at The Arizona Biltmore Resort and Spa, took a hard look at these factors and others.

PHOENIX—Goodyear Gateway South, the 221-acre industrial zoned park being developed by EJM Development Co. just north of the Phoenix Goodyear Airport, has announced its first user. Michael Lewis Co. has purchased a 30-acre parcel for development.

PHOENIX—At the 20th anniversary of The Lodging Conference held at the Arizona Biltmore Resort and Spa yesterday, registrants gathered to hear the nation's experts speak on a multitude of topics related to the hotel industry.