Goodman Real Estate Completes Third High-Profile Phoenix-Area Acquisition in Last Six Months
PHOENIX – January 23, 2026 – CBRE negotiated the sale of Biltmore at Camelback, a 270-unit Class A multifamily community located in the preferred Camelback Corridor of Phoenix. CBRE’s Asher Gunter, Matt Pesch, Sean Cunningham and Austin Groen represented the seller, Heitman Capital Management. Seattle-based Goodman Real Estate acquired the property. CBRE Debt & Structured Finance arranged financing for the buyer.
“Biltmore at Camelback is an iconic multifamily community located in the heart of Phoenix’s resort corridor and is surrounded by high-wage employment and walkable retail amenities,” said CBRE’s Asher Gunter, vice chairman and managing director of the Southwest region. “The community has been institutionally owned and maintained since it was built in 2013 and attracted strong investor interest because of the asset’s durability, long-term upside and irreplaceable location.”
Completed in 2013, Biltmore at Camelback was built to impeccable design standards. Amenities include a resort-inspired pool and spa area with sun deck, waterfall, and three cabanas equipped with fans and big screen televisions. A 24-hour, two-story wellness center overlooks the pool and is fully equipped with state-of-the-art cardio and weight training machines. A resident clubhouse includes a community kitchen, outdoor deck overlooking the pool, indoor/outdoor luxury seating areas, and a business lounge.
Goodman Real Estate is a vertically integrated investment firm with a diversified portfolio of more than 10,000 residential units across the United States, with assets valued at more than $3.25 billion. Goodman operates across nearly two dozen states with extensive holdings in Washington, Arizona, Texas, and California. Biltmore at Camelback is Goodman’s third high-profile Phoenix-area acquisition in the last six months.
“Biltmore at Camelback aligns with our investment strategy of acquiring high-quality, walkable, lifestyle-oriented communities,” said Goodman CEO Kelli Jo Norris. “Biltmore at Camelback is an amenity-rich property with an exceptional location. The property’s location within the Camelback Corridor makes it a strong addition to our Phoenix portfolio. We are excited to continue expanding our presence in the market with high-quality assets.”
Heitman Capital Management is a global real estate investment management firm with $48 billion in assets under management. Founded in 1966 Heitman has 10 offices worldwide and is an active participant in three key segments of the global real estate property and capital markets.
“Heitman is proud of our diligent investment strategy with this community, resulting in a successful transaction to start the year,” said Heitman senior vice president Christopher Fruy.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2024 revenue). The company has more than 140,000 employees (including Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
About Goodman Real Estate:
Founded in 1980 by John Goodman, Goodman Real Estate, Inc. (GRE) is a leading privately held full-service real estate investment company specializing in multifamily real estate. Headquartered in Seattle, Washington, GRE maintains a diversified portfolio of more than 10,000 residential units across the United States. With managed assets valued at more than $3.2 billion, this portfolio spans the spectrum of middle-market and institutional properties across North America while maintaining a disciplined approach as a trusted, user-friendly co-investment partner for global real estate investors, offering a compelling alternative to traditional opportunity-fund models.
