CBRE Arranges Sale of 258-Unit Broadstone Seventh Street Apartments in Phoenix

CBRE arranged the sale of Broadstone Seventh Street, a 258-unit multifamily community in north central Phoenix, reflecting continued institutional demand for core infill assets in the market. CBRE’s Asher Gunter, Matt Pesch and Austin Groen represented the seller, Alliance Residential. A leading global investor acquired the community.

“This transaction reflects the continued confidence institutional investors have in core Phoenix infill locations. Broadstone Seventh Street benefits from its highly desirable location along the 7th Street Corridor, and Alliance's commitment to design and construction quality is evident throughout the asset. We're proud to have represented the transaction and look forward to continued momentum in the Phoenix multifamily market,” said Gunter, vice chairman at CBRE.

Completed in 2024, Alliance Residential’s signature Broadstone community features a resident clubhouse with an upscale kitchen and billiards, a two-story fully equipped fitness center, and a resort-style pool and spa with private cabanas, an outdoor ramada and barbecue grills.

The community includes studio, one- and two-bedroom floorplans. All residences feature 9- and 10-foot ceilings in top-floor units, wood-style flooring, in-unit washer and dryer, quartz countertops, illuminated vanity mirrors, and SmartRent Home technology. Gourmet kitchens feature energy-efficient stainless-steel appliances, gas cooktops and an eat-in island or peninsula. Select units include desk nooks, mudroom entry and spacious wardrobe closets.

Headquartered in Scottsdale, Alliance Residential Company has built or acquired more than 136,000 units representing over $27.2 billion in invested capital since its founding in 2000.

“The successful sale of Broadstone Seventh Street marks the culmination of years of thoughtful planning, quality construction and careful asset management,” said Alliance Residential Managing Director Ian Swiergol. “We set out to deliver a best-in-class community in one of Phoenix's most dynamic urban neighborhoods, and we're proud of what the team built. This outcome speaks to the strength of Phoenix multifamily fundamentals and Alliance's ability to identify and execute on high-quality opportunities throughout the market cycle.”

The property is less than three miles from the Camelback Corridor, one of Metro Phoenix’s leading office submarkets, and home to upscale shopping and dining including Biltmore Fashion Park.