Phoenix

The firm has acquired the five-property asset in Tempe, AZ from BKM Capital Partners.

The community investor is launching a national fund for accredited investors looking to enter the Arizona market.

The developer plans to build 1,600 units in Phoenix and Scottsdale, a total investment of $500 million.

Investors are following renter migration patterns outside of the big cities with non-major metros receiving the highest investment activity on record last year.

As more Californians arrive in Phoenix, the political environment is shifting. Could it deter investor appetite in the market?

The 240-unit property was purchased by Taurus Investment Holdings for $235,000 per unit.

With 13.9 million square feet of industrial absorption, 2020 was a record year for industrial activity in Phoenix.

Like other markets, Phoenix's office sector was hit hard by the pandemic, falling more than 58% with vacancy increasing 110 basis points.