Millburn & Co Acquires 215-Unit Echo Biltmore Multifamily Property In Phoenix For $71.3M

Millburn & Co. acquired a multifamily property located at 1720 East Camelback Road in Phoenix, AZ. The asset, completed in 2024 by Wood Partners, consists of 215 units, which reflects a price per unit of $331,628. The sale was completed for a total of $71.3 million. The property includes various amenities such as a pool, fitness center, rooftop lounge, and EV charging stations, and is positioned conveniently near major highways, retail outlets, and downtown Phoenix.

Summary of transation details:

• Property Type: MultiFamily
• Transaction Amount: $71,300,000
• Buyer: Millburn & Co
• Seller: Wood Partners
• Lender: CBRE Capital Markets
• Units: 215
• Price Per Unit: $331,628

The transaction highlights the involvement of Millburn & Co. as the buyer, while CBRE Capital Markets provided a $41.3 million loan to facilitate the acquisition. Wood Partners acted as the seller in this significant deal within the Phoenix market.