Arte Moreno Purchases Cortland Biltmore Multifamily Property In Phoenix For $125 Million

The transaction involved a multifamily asset located at 2727 East Camelback Road in Phoenix, AZ. Arte Moreno acquired the property from Cortland for $125,000,000, translating to approximately $500,000 per unit.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $125,000,000
• Buyer: Arte Moreno
• Seller: Cortland
• Date of Sale: 03/26/2026

Arte Moreno's acquisition of the Cortland Biltmore adds to a series of Phoenix-area real estate investments he has made, which exceed $95 million involving office and land deals throughout 2025.