Phoenix’s Lyra Residences sold for $8.11M

Independent Newsmedia
Posted 6/21/20

CBRE has negotiated the sale of Phoenix-based Lyra Residences, an 18-unit luxury townhome rental community comprised of two-story smart homes.

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Phoenix’s Lyra Residences sold for $8.11M

Posted

CBRE has negotiated the sale of Phoenix-based Lyra Residences, an 18-unit luxury townhome rental community comprised of two-story smart homes.

Long Beach Trading Company Inc. acquired the property from Lyra Residences 38th St, LP, for $8.11 million or $450,333 per unit. The transaction represents the highest sale in terms of price per unit this year in metro Phoenix, a press release claims.

Brian Smuckler, Jeff Seaman, Derek Smigiel and Bryson Fricke of CBRE in Phoenix represented the buyer, who was completing a 1031 exchange, and seller in the transaction.

Lyra Residences, 2950 N. 38th St. in Phoenix, is nearby to Biltmore Fashion Park, a luxury shopping center with over 60 restaurants and retailers.

The community was built in 2020 and offers three-bedroom, two-and-a-half bath townhomes that average 1,778 square feet.

All units have private backyards, two-car garages, large laundry rooms with full-size washers and dryers, high-speed internet, keyless door entry and doorbell camera and smart climate control.

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