Cushman & Wakefield Negotiates Sale of Class A Multifamily Opportunity
PHOENIX, June 27, 2018 – Cushman & Wakefield completed the sale of Aura Apartments, located at 1920 E. Indian School Road in Phoenix. Banner Audere, LLC, an entity formed by Banner Real Estate Group of Northbrook, Ill., purchased the property from Dallas-based TRG Indian School, L.P., an entity of Trinsic Residential Group, for $50.5 million.
Executive Managing Directors David Fogler and Steven Nicoluzakis of Cushman & Wakefield represented the seller.
Aura Apartments is a newly constructed 220-unit, Class A luxury rental community located in Phoenix’s Biltmore area. Developed by Trinsic Residential, Aura features a mix of one-, two, and three-bedroom floor plans. The apartment’s contemporary design features wood-tile flooring, contemporary lighting, full-size washer/dryers, walk-in closets, private patios/balconies, quartz countertops, under-mount sinks, designer plumbing fixtures, 42-inch upper cabinets with tile backsplash, glass-front cabinets, Energy Star stainless steel appliances, side-by-side refrigerators with ice/water dispensers, and gourmet prep islands with pendant lighting.
The property’s amenity set includes a clubhouse with entertainment lounge/coffee bar, resort-style swimming pool with spa, private poolside cabanas, outdoor fireside seating, outdoor kitchen with TV’s and barbecue grills, multi-level fitness center, cardio theater and spin bikes, pool table, electric car charging station, covered parking and detached garages, and controlled access.
“Aura combines a high quality in-fill location with high-level design details, a superior amenity package and top-of-the-line interior finishes to create a best-in-class multifamily community for the buyer,” said Fogler.
Aura’s location near the intersection of Indian School Road and 20th Street provides easy access to the major employment centers of the Camelback Corridor, Midtown and Downtown Phoenix as well as one of the Phoenix area’s most dynamic restaurant scenes. Aura also provides close proximity to shopping at Biltmore Fashion Park, excellent schools, numerous highly ranked hospitals, the AZ-51 Freeway and the Phoenix Mountain Preserve.
About Cushman & Wakefield
Cushman & Wakefield is a leading global real estate services firm that delivers exceptional value by putting ideas into action for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with 48,000 employees in approximately 400 offices and 70 countries. In 2017, the firm had revenue of $6.9 billion across core services of property, facilities and project management, leasing, capital markets, advisory and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.