Berkadia Completes $50 Million Sale of Multifamily Property in Arizona
PHOENIX – August 1, 2022 – Berkadia announced today the sale of Omnia Baseline, a 169-unit multifamily housing property located in Tempe, Arizona. Managing Director Dan Cheyne, Senior Managing Directors Ric Holway and Mark Forrester and Director Andrew Curtis of Berkadia Phoenix completed the $50 million sale on behalf of the seller, Colorado-based Avanti Residential. The buyer was California-based LLG Investments Inc. This was the buyer’s 8th acquisition in the Phoenix MSA, and they are actively looking for additional assets. The deal closed on July 22.
“Omnia Baseline was a well-positioned, value-add community in the highly desirable Baseline corridor in Tempe, Arizona,” said Cheyne. “The community offers unique features including single-story casita apartment homes and loft units over private garages.”
Completed in 1982, Omnia Baseline is located on Baseline Road just East of the I-10 Freeway and features studio, one- and two-bedroom floor plans. Community amenities include a swimming pool, a fitness center, a clubhouse, a playground, gated entrance, covered parking and onsite laundry facilities. Residents are afforded convenient access to Arizona Grand Golf Course, SEA LIFE Arizona Aquarium, LEGOLAND Discovery Center Arizona and the shops and restaurants near West Baseline Road and I-10 Freeway.