Principal Asset Management Purchases 270-Unit Biltmore At Camelback In Phoenix For $97.35M

The asset involved in this transaction is a multifamily property located at 2625 East Camelback Road in Phoenix, AZ. The property consists of 270 units and was sold for a total price of $97,350,000, which equates to approximately $360,556 per unit.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $97,350,000
• Units: 270
• Price Per Unit: $360,556
• Buyer: Principal Asset Management
• Seller: Heitman affiliate
• Date of Sale: 04/06/2026
• Address: 2625 East Camelback Road
• Market: Phoenix, AZ

Principal Asset Management acquired the 270-unit property from a Heitman affiliate. The transaction illustrates the ongoing activity in the multifamily sector within the Phoenix market.