By Business Real Estate Weekly
The nation’s busiest apartment developer in 2014 – Alliance Residential Co. in Phoenix – has closed on multi-family sites in Gilbert and Phoenix that are planned for a total of 536 units.
Two separate companies formed by Alliance Residential paid a combined $12.35 million to buy 17.6 acres that will be used to build the communities.
With 7,500 apartments started in the U.S. in 2014, the National Multifamily Housing Council recently ranked Alliance Residential as No. 1 in the country among apartment developers as far as new construction. The privately-held Alliance Residential Co. (Bruce Ward, Bob Hutt, Jay Hiemenz, partners) likely will maintain that ranking in 2015 as the company has roughly 11,000 new apartments underway in the U.S. already this year.
