Heitman Offloads Camelback Apartments After 12-Year Hold
Principal Financial acquired the 270-unit Biltmore at Camelback in Phoenix for $97.3 million. Heitman was the seller. Heitman paid $74.75 million ($276,852 per unit) to acquire the four-story complex in 2014. It was built in 2013.
The Biltmore at Camelback has units ranging from 628-1,074 square feet renting for between $1,600-$2,600 a month. Balcony and patio options are available. Amenities include a fitness room, pool, spa, cabana, grills, clubhouse and dry cleaning service.
Heitman is a global real estate investment management firm with $48 billion in assets under management. Founded in 1966, they have 10 offices worldwide and are active participants in three key segments of the global real estate and capital markets.
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Attendees at Connect Apartments 2026, held in late September at The Biltmore in Los Angeles, had an up-close vantage point to hear from industry leaders on the opportunities and challenges seen by participants in the multifamily market across the western U.S. For those who were unable to attend, we have summarized the in-person conference in...
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Anaheim Deal Represents Investor’s First Multifamily Buy Since 1993
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Joint Venture Launches Construction on Multifamily at Yonkers’ Ridge Hill Center
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Brokers
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Remax Professionals
Re/Max Real Estate Professionals | New York
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Eamonn McConnell
Avison Young - CA - ON - Greater Toronto
Lenders
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout