CBRE, the Dallas-based real estate firm, negotiated the sale of Alta Biltmore, a 215-unit luxury multifamily community in the Camelback Corridor submarket of Phoenix.

CBRE's Asher Gunter, Matt Pesch, Sean Cunningham and Austin Groen represented the seller, a national multifamily developer. Salt Lake City-based Millburn & Co. acquired Alta Biltmore, marking the company’s eighth multifamily acquisition in metro Phoenix since 2020.

The price was not disclosed.

“Alta Biltmore features high-quality wrap construction, best-in-class amenities, and the community has one of the most walkable locations in the submarket with high-end retail and fine dining in the surrounding Biltmore neighborhoods,” said CBRE’s Asher Gunter, vice chairman and managing director of the Southwest region, in a statement.

CBRE states that current residents will not be affected by the sale.

“We are excited to add Alta Biltmore to our Phoenix portfolio and continue to explore other luxury multifamily investment opportunities in the region,” said Millburn & Company Chief Investment Officer Sage Sawyer in a statement.