Almeria at Ocotillo is ideally situated in the thriving Phoenix metropolitan area, a national leader in job and population growth. As one of only two Class A residential developments in the Ocotillo master-planned community, Almeria at Ocotillo provides a unique opportunity for luxury multifamily living in a highly sought-after residential enclave. The 389-unit garden apartment community was acquired for $129.25 million.
Built in two phases in 2014 and 2015, Almeria at Ocotillo’s residences comprise contemporary interiors with high-end finishes. The amenity-rich development includes a residential clubhouse with lounge, kitchen and billiards table; 24-hour fitness center; and entertainment space with an outdoor fireplace, gas barbeques and dining areas. The north phase has a resort-style pool and spa, children’s aquatic playground and pet grooming station, while the south phase includes an infinity-edge lap pool and spa, yoga and spin studio, dog park and theatre room. As part of the larger Ocotillo master-planned community, residents of Almeria at Ocotillo have access to its 27-hole golf course, 162 acres of interconnected lakes, numerous interior walking and biking paths, and a variety of upscale dining and retail destinations.
Rise at 2534 is a 236-unit mid-rise apartment community, located between Denver and Fort Collins, in an area with limited competitive product to satisfy resident demand for multifamily. The community was developed by A.G. Spanos and completed in 2019, it was acquired for $70.2 million.
Rise at 2534’s garden-style apartments feature high-end finishes including quartz kitchen countertops, hardwood flooring, stainless steel appliances and in-unit washers and dryers in separate laundry closets. Select units have granite kitchen islands, soaking tub showers, dual-vanity bathrooms, balconies and walk-in closets. Community amenities at the property include a resort-style heated pool, clubhouse with business center, community garden, dog park, pet spa, 24-hour fitness center with yoga room, and golf simulator. It is also conveniently located to major employers, Centerra – a master planned community that features dozens of popular retailers and is walkable to local retail and restaurants in Johnstown Plaza.
Both acquisitions were reported by The Real Estate Alert.
Pictured: Almeria at Ocotillo and Rise at 2534