PHOENIX, AZ - MORGAN, a Houston-based leader in multifamily development, construction, acquisitions and property management, has opened the Pearl Biltmore, its first multifamily luxury community in the Phoenix market. Located near the intersection of Highland and 24th Street, the 472-unit project is a joint venture between MORGAN and Mesirow.
Pearl Biltmore contains 19 unique floor plans in a mix of studio, one-, two- and three-bedroom apartments, including several loft-style units. The five-acre property is surrounded by more than 7.4 million square feet of Class A office space, medical offices, resorts, and numerous retail and dining destinations, including Biltmore Fashion Park. Less than a mile from State Route 51, the site offers convenient access to downtown and Phoenix Sky Harbor International Airport.
“We are excited about opening our first investment in Phoenix," Vice Chairman Alan Patton said. "With shopping, restaurants, entertainment options and daily conveniences right out the front door, Pearl Biltmore affords residents a lifestyle among the most desirable neighborhood amenities in one of the best submarkets in the valley. Within the community, we provide a host of best-in-class amenities synonymous with the Pearl brand."
Premium Pearl amenities at the Pearl Biltmore include luxury vinyl plank flooring in living areas; Nest thermostats; full-size balconies or patios; open kitchens with stainless steel appliances, under cabinet LED lighting, Quartzite countertops and glass tile backsplash; Quartzite countertops and backsplash in the bath area, as well as LED backlit mirrors. Select residences have skyline views, walk-in closets, movable kitchen islands, walk-in glass showers, and spa soaking tubs.
Outside the units, the property features more Pearl extras, such as a two-story fitness center with a cardio/strength training area and fitness-on-demand studio; a clubroom with lounge seating and media wall; two resort-style pool decks with grill stations, cabanas and bistro seating; a scenic sky lounge with an indoor/outdoor catering kitchen, media wall and Wi-Fi counter; a co-working lounge with a computer bar, printer station, refreshment center and private office pod; a bark park with pet wash area; a bike storage room with repair tools; and 24/7 package retrieval.
According to Alasdair Cripps, Chief Executive Officer and Co-Chief Investment Officer of Mesirow's Institutional Real Estate Direct Investments business, "We are excited to partner with MORGAN on this latest investment in Phoenix, one of the nation's strongest multifamily markets. This property exemplifies the signature Pearl luxuries, from the exclusive and classy ambiance of the property itself, to the premium amenities available for residents and the convenience and adventure offered by the exceptional location."