**Regent Properties Acquires $90M Multifamily Portfolio in Downtown Phoenix**
CBRE has brokered the sale of a three-property multifamily portfolio totaling 323 units in the Roosevelt Row neighborhood of Downtown Phoenix. The boutique, Class A communities—Linear (104 units), iLuminate (111 units), and The McKinley (108 units)—are situated within a half-mile radius of each other.
The portfolio was acquired by Regent Properties for $90 million, marking the firm’s first multifamily acquisition in the Phoenix metro area. The seller was Baron Properties.
CBRE’s Asher Gunter, Matt Pesch, Austin Groen, and Sean Cunningham represented Baron Properties in the transaction. Financing for the acquisition was arranged by Jesse Weber and Andrew Behrens of CBRE Debt & Structured Finance.
Constructed by Baron Properties between 2016 and 2020, Linear (295 East Roosevelt Street), iLuminate (290 East Roosevelt Street), and The McKinley (280 West McKinley Street) offer premium amenities including swimming pools and rooftop patios.
Baron Properties has been active in real estate development since 1983 and has developed, redeveloped, or invested in over $2 billion worth of properties throughout Colorado, Arizona, and Idaho.
