Knightvest Sells Phoenix Multifamily Community to ColRich for $62.3M
Knightvest has completed the sale of a Phoenix multifamily property for $62.3 million. The 292-unit downtown rental community, known as Mason Oliver, was acquired by ColRich.
Originally built in 2016, Mason Oliver consists of two separate podium-style buildings located one block apart. Each building is equipped with a wide range of amenities, including two swimming pools, spa areas with barbecue grills, fully outfitted fitness centers, resident clubhouses, and leasing centers. The property also benefits from close proximity to a light rail station.
ColRich now owns 12 multifamily communities across the Greater Phoenix metro area. Knightvest Capital, founded in 2007, has been actively investing in high-growth metros such as Texas, Arizona, the Carolinas, and Florida, with over $10 billion invested to date in the acquisition of more than 55,000 units.
The transaction was brokered by CBRE’s Matt Pesch, Asher Gunter, Sean Cunningham, and Austin Groen, representing Knightvest. Financing for the buyer was arranged by Trevor Breaux and Troy Tegeler of CBRE’s Debt & Structured Finance team.
Phoenix continues to be one of the nation’s strongest markets for multifamily housing demand, recording 15,400 units of absorption through the first half of 2025. This figure places Phoenix third among all U.S. metros for year-to-date multifamily unit absorption, based on recent data from CBRE.
