North Central News

New luxury apartment ownership changes

Broadstone Sixteen 75, a 225-unit luxury apartment community located at 1675 E. Morten Ave., recently was purchased for $60 million by an entity formed by ConAm Asset Management Corporation of San Diego, Calif.

Cushman & Wakefield Executive Managing Directors David Fogler and Steven Nicoluzakis of the Phoenix office represented the seller, a limited partnership formed by Phoenix-based Alliance Residential.

Broadstone Sixteen 75, built in 2015, is a recently completed and leased apartment community located on five acres at the base of Piestewa Peak near 16th Street and Morten Avenue, near the AZ-51 freeway. This location offers immediate access to major employment, shopping, dining and entertainment corridors, and outdoor recreation.

“Broadstone Sixteen 75 represents a best-in-class core quality multifamily community located in a premier infill location in the highly desirable North Central neighborhood of Phoenix,” said Fogler.

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