Alliance Residental sells Class A apartments for $60M

Phoenix-based Alliance Residential Co. has sold a 225-unit apartment complex on 16th Street in Phoenix for $60 million. Alliance sold its Class A Broadstone Sixteen 75 complex to San Diego-based ConAm Asset Management Corp. The sale translates to just under $267,000 per unit. Cushman & Wakefield’s David Fogler and Steve Nicoluzakis represented Alliance, one of the largest apartment developers in the U.S. The Broadstone Sixteen 75 complex is located at 16th Street and Morten Avenue in north-central…


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