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The I-10-Loop 202 expansion is energizing multifamily investment activity in Phoenix. The highly anticipated project, which will connect the 1-10-Loop 202 from Southeast Valley cities of Ahwatukee, Tempe, Chandler, Gilbert to Central Phoenix. Recent investment activity includes deals like the Avante Apartment Homes, a 428-unit apartment community in Phoenix, which traded hands for $51 million. The property is located at the interchange of the I-10 Loop 202 interchange. This is an example of the increased investment activity, which has also fueled property values and land prices for new development.

“Multifamily investors are always seeking to find opportunities in expanding locations with significant economic development in the pipeline,” Alon Shnitzer, senior managing partner at ABI Multifamily, tells GlobeSt.com. “The Loop 202 Expansion is a major west and south Phoenix area driver, which, upon its completion in 2019, should increase demand for new/updated rental housing along its corridors over the next few years due to the job growth that’s expected.” Shnitzer brokered the deal of the Avante Apartment Homes along with Eddie Chang and Rue Bax.

Kelsi Maree Borland

Kelsi Borland is a freelance writer and editor living whose work has appeared in such publications as Travel + Leisure, Angeleno and Riviera Orange County.

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