Apartment Market and Sales Insights
Trustee Sales
510 N Horne, Mesa on 5.20.2025. 25 units built 1971, credit bid $5,112,549. Original purchase on 6.18.2022 was $5,750,000. This was the same owner and lender as the 16 units at 750 E 1st Av., Mesa (reported last week).
12,810 N Cave Creek Rd., Phoenix on 5.28.2025. 206 units built 1986, owned by Tides on Cave Creek, credit bid of $61,207,054. Original purchase on 5.15.2022 for $59,000,000. 3rd Trustee Sale by Tides Equities in the past year.
What to watch: Across metro Phoenix there are 226 CMBS loans on the “Watch List”, 76 being multifamily. Delinquency rate for CMBS MF was up from 5.44% in March to 6.57% in April. YoY rent growth was down 3.1% and concessions increased to 9.5% of annual rental income, up 2.0% YoY. There were 8,696 units completed thru May with 43,989 units Under Construction. Homes listed for sale have now grown to about 26,000 and creating a buyer’s market. Possible competition for apt’s!
Since mid-2023, the number of apt. sales has significantly decreased. With the 10 Yr T-bills and lending rates showing no indication of declining, loans adjusting to market rates are providing opportunities for investors. See our Q1 2025 Apt. Owner’s Newsletter – link below.
Note that we also provide Interactive Maps and Downloadable Lists for currently advertised Apts For Sale, details of Prior Apt Sales and the New Apt Construction Pipeline. Use the Construction button below to show the location of the new projects. IT’S NOT Central Phoenix!