Article originally posted on CoStar on Oct 8 2026

Keech Properties acquired The Astor at Osborn, a 191-unit multifamily mid-rise in Phoenix, from High Street Residential for $47.8 million, or $250,262 per unit.

High Street Residential, a wholly owned operating subsidiary of Trammell Crow, specializes in multifamily development with a focus on urban, mixed-use residential projects and the redevelopment or repurposing of existing facilities.

The five-story property at 3300 N. Seventh Ave. was completed in 2019 and is one of only two multifamily properties built along the avenue since 1985. The unit mix comprises 53 studios, 77 one-bedroom, 57 two-bedroom and four three-bedroom apartments. The property was 92% filled at the time of sale, according to CoStar data.

The apartment complex provides direct access to 171,000 employees within the midtown and downtown Phoenix Innovation Corridor, where industry employers include Dignity Health, Banner Health, UnitedHealth Group and Freeport-McMoRan. IBM, U-Haul International and CopperPoint Insurance are also within proximity, along with the Park Central Innovation Hub. The Uptown Plaza open-air shopping center is nearby, and the Phoenix Country Club is within a short drive.

“The Astor at Osborn benefits from a meaningful rent vs. own affordability gap. Within a one-mile radius, rents are 48% below the cost of homeownership,” said Steve Gebing, IPA executive managing director of investments, in a statement.

Keech Properties owns five properties totaling 713,422 square feet.