Biggest apartment portfolio deal in AZ history: Here’s who scooped it up

Article originally posted on Phoenix Business Journal on July 29, 2025

San Diego-based Fairfield Residential plopped down $462.38 million for what is now the largest Arizona multifamily portfolio deal in the state’s history.

The next closest was 3rd Ave Investments’ $414.5 million of a Phoenix multifamily portfolio from Samuel Geltman & Co. in December 2021, according to data from CoStar/Homes.com.

“While there were some multi-property deals that included buildings both in and out of state or other asset classes, the Fairfield Residential acquisition is the state’s highest dollar volume sale on record of just multifamily properties in Arizona,” said Connor Devereaux, director of market analytics for Costar/Homes.com.

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