Camelback Office-to-Apartment Conversion Nearly Complete

Camelback Office-to-Apartment Conversion Nearly Complete
News| June 5, 2026| Mike Boyd
Phoenix & Southwest + Apartment Buildings

The transformation of the 11-story One Camelback is nearly finished. The Phoenix Business Journal reports the glass tower is now more than 90% completed and expects to open in September. Kinella Capital acquired the former BMO bank building for $36 million after the original developer defaulted on the loan.

The 163-unit complex will have a 150-foot open atrium, 11,000 square feet of ground floor retail space, a gym, a co-working lounge, underground parking and a rooftop pool with 360-degree unobstructed views of the city and Camelback Mountain.

Rents will range from $1,600 to $10,000 a month for rooms from 530 to 1,900 square feet. Amenities will feature a pool and spa, lounge areas, a fire pit, and multiple grills will be on the roof.

Other News

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

JLL Arranges $135M Financing for Luxury Multifamily in Yonkers

New York & Tri-State + Apartment Buildings

JLL Capital Markets arranged $135 million in construction financing and joint venture equity for the development of The Ibex at Ridge Hill, a 282-unit luxury multifamily community at the Ridge Hill mixed-use lifestyle center in Yonkers. Senior managing directors Evan Pariser and Aaron Niedermayer and director John Lowe arranged the senior construction loan with Bank...

Learn more
New call-to-action

Brokers

View All

Lenders

View All

Management

View All
Login
or
Sign up