Scottsdale Luxury Developer Has 2,500 Apartments in the Pipeline

By Angela Gonzales | Phoenix Business Journal Ian Swiergol, managing director for Scottsdale-based Alliance Residential Co.’s Southwest region, has $500 million in apartments under construction and another eight projects totaling $600 million and about 2,500 units in the pipeline in metro Phoenix. These plans come at a time as Alliance Residential is opening Broadstone Portland, …

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Scottsdale Investor Creates Firm to Manage $1B in Properties

By Angela Gonzales | Phoenix Business Journal Scottsdale-based Rise48 Equity — which is on track to close on $550 million in metro Phoenix apartments in 2021 — has formed its own property management company to manage all its own communities. To be called Rise48 Communities, the new property management firm will take over management of …

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Out-of-State Investors Bullish On Metro Phoenix Apartments

By Angela Gonzales | Phoenix Business Journal Out-of-state investors are swooping into town to pay big bucks for apartments as the landscape gets even more competitive. Salt Lake City-based Millburn & Co. paid $178.5 million for the 832-unit Heritage at Deer Valley, making it the highest sale price for a single multifamily community in Phoenix …

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Rising Rents, Lower Credit Scores in Phoenix — What’s Next?

By Angela Gonzales | Phoenix Business Journal While year-over-year apartment rents continue to rise in metro Phoenix, the credit scores of renters are dropping. Renters in Phoenix have an average credit score of 613 in 2020, down from 619 in 2019 and 617 in 2018, according to a new study from RentCafé. Looking at the …

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