One Camelback Office-to-Apartment Conversion Nearly Complete

One Camelback Office-to-Apartment Conversion Nearly Complete
News| May 6, 2026| Mike Boyd
Phoenix & Southwest + Apartment Buildings

Kinella Capital and developer TK Stratton are making strides with One Camelback, the adaptive reuse project that was stalled until earlier this year. Kinella Capital purchased the onetime office building last year for $36 million and is moving fast on the repositioning. The project, on the corner of Camelback and Central, is on track for completion in late 2026. There will be 136 luxury rental units.

Since taking over the property, the team has completed the conversion of 200,000 square feet of office property to apartments and 11,000 square feet of ground-floor retail. The rooftop pool and amenity deck are nearing completion.

Pre-leasing is expected to begin soon, with rental pricing anticipated to be announced ahead of the official leasing launch later this year. 

Other News

Benefit Street Partners Funds $117.3M Refi on 3 Texas Rental Assets

Texas + Apartment Buildings

Walker & Dunlop arranged $117.3 million to refinance three Class A multifamily communities totaling 960 units across the Austin and Dallas-Fort Worth metropolitan areas in Texas. Greystar manages all three properties. Walker & Dunlop Capital Markets Institutional Advisory served as exclusive advisor, arranging the $117.3 million financing provided by Benefit Street Partners. Jordan Casella, Aaron Appel, Adam Schwartz, Jonathan Schwartz, Keith Kurland, Christopher...

Learn more

Development Site Trades within Atlantic Avenue Mixed-Use Plan

New York & Tri-State + Apartment Buildings

Ariel Property Advisors closed the $21-million sale of a development site at 566 Grand Ave. and 836 Dean St. in Prospect Heights, Brooklyn. The corner development site comprises approximately 86,065 buildable square feet and traded for approximately $244 per buildable square foot. The transaction was arranged by Ariel partner Sean R. Kelly along with associate...

Learn more

Fourth Sale Closes in Anaheim Multifamily Portfolio

California & West + Apartment Buildings

Marcus & Millichap arranged the sale of Knott-Orange Apartments, a 35-unit multifamily property located at 515 S. Knott Ave. in Anaheim. The property sold for $9.65 million, or $275,714 per unit. “This transaction marked the fourth closing from a larger Anaheim-area multifamily portfolio as the seller continues to reposition its holdings through a 1031 exchange...

Learn more
New call-to-action

Brokers

View All

Lenders

View All

Management

View All
Login
or
Sign up