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Phoenix High-Rise Trades for $94 Million as Investors Renew Interest in Downtown Apartments

Phoenix's Tallest Residential Tower Sells for Whopping $500,000 Per Unit
Downtown Phoenix's 44 Monroe was built in 2008. (Newmark)
Downtown Phoenix's 44 Monroe was built in 2008. (Newmark)
CoStar News
August 4, 2022 | 7:14 P.M.

A Colorado multifamily investment firm paid $93.5 million to buy the tallest apartment tower in downtown Phoenix, a once-sleepy district that has come back into vogue for renters over the last decade.

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