The Metropolitan Lofts in Phoenix Sell for $2.7 Million

Published on May 07, 2012


PHOENIX – Cassidy Turley BRE Commercial is pleased to announce that they have completed the sale of The Metropolitan Lofts for $2,700,000 / $44,262 per unit. The 61-unit partially completed residential community is located at 535 W. Thomas Rd. in Phoenix. Lead Properties V, LLC out of Centennial, CO purchased the lender owned property from ML Manager LLC.

Fronting on Thomas Road, and directly across the street from St. Joseph’s Hospital and Medical Center, the property includes seven loft floor plans that range in size from 414 to 1,025 square feet. The Metropolitan Lofts is blocks from the Metro Light Rail and minutes from the ASU Downtown campus and Downtown Phoenix’s arts, cultural and sporting amenities.

Executive Vice Presidents David Fogler and Steven Nicoluzakis, with Cassidy Turley’s Multi-Family Service Group and Don Arones with Cassidy Turley’s Office Service Group represented the Seller in the transaction. For more information visit www.ctmultihousing.com or call 602.954.9000.

About Cassidy Turley

Cassidy Turley is a leading commercial real estate services provider with more than 3,600 professionals in more than 60 offices nationwide. The company represents a wide range of clients—from small businesses to Fortune 500 companies, from local non-profits to major institutions.  The firm completed transactions valued at $22 billion in 2011, manages 455 million square feet on behalf of private, institutional and corporate clients and supports more than 28,000 domestic corporate services locations. Cassidy Turley serves owners, investors and occupiers with a full spectrum of integrated commercial real estate services—including capital markets, tenant representation, corporate services, project leasing, property management, project and development services, and research and consulting. Cassidy Turley enhances its global service delivery outside of North America through a partnership with GVA, giving clients access to commercial real estate professionals in 65 international markets. Please visit http://www.cassidyturley.com for more information about Cassidy Turley.

Cassidy Turley provides regional real estate services in Phoenix through Cassidy Turley BRE Commercial. The company offers brokerage investment and advisory services in office, industrial, retail, multi-family, land and property management. The firm was ranked No. 1 in the Commercial Real Estate Brokers list of the Phoenix Business Journal’s 2010 and 2012 Book of Lists.

Alison Melnychenko

(602)224.4459                                                                                                    

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