KB Investment Buys Central Phoenix Luxury Community
KB Investment Development has acquired Green Leaf Arts District, a 280-unit luxury community in Phoenix. CBRE brokered the transaction on behalf of the seller, Green Leaf Capital Partners.
Completed in 2017, the property offers units with an average size of 860 square feet. Interiors feature modern kitchens, granite countertops, stainless-steel appliances and nine-foot ceilings. Common-area amenities include a clubhouse, a swimming pool, a spa and covered fireplace, a fitness center, a yoga lawn and a gaming area with barbeque grills and two fire pits.
Located at 222 E McDowell Road, the community is situated in the city’s central business district. The property is close to Arizona State University and multiple cultural and recreational venues, including The Phoenix Art Museum, The Phoenix Theater Company and The Japanese Friendship Garden of Phoenix. Dining and retail options are available in the immediate area, along McDowell Road and North Central Avenue.
CBRE’s Asher Gunter, Matt Pesch, Sean Cunningham, Tyler Anderson and Austin Groen represented Green Leaf Capital Partners in the transaction.
Green Leaf Arts District marks KB Investment Development’s latest investment. The company has an acquisition fund of $1 billion and is actively looking to expand in the Phoenix market. Recently, CBRE has arranged another sale in the metro area, representing the buyer of a 240-unit community that sold for $75 million.