Evergreen Devco Negotiates $62 Million Sale of 306-Unit Luxury Apartment Community in North Phoenix

Article originally posted on Commercial Executive Magazine on March 12, 2019

Evergreen Devco, Inc., a leading retail and multifamily development company, announced today that it has completed the sale of the apartment community within its mixed-use redevelopment, Trellis on Bell, located at 12th Street and Bell Road in North Phoenix.

Green Leaf Partners purchased the 306-unit apartment community from Evergreen for $61.7 million. The property islocated at 1100 E. Bell Road and will be called Green Leaf on Bell.

Trellis on Bell is a master planned, mixed-use 32-acre redevelopment of a former home to a large computer chip manufacturing facility 15 miles north of downtown Phoenix. The apartment community is a part of the mixed-use development which includes restaurants and shopping along Bell Road, and a single-family home community.

Completed in 2018, the apartment community includes a resort-style pool and clubhouse with each apartment unit featuring desirable amenities including granite countertops and stainless-steel appliances.

About Evergreen Devco, Inc.

Founded in 1974, Evergreen specializes in retail and multifamily development, tenant roll outs, project and construction management, property management, asset management, sustainable building and solving financing issues for various retailers and franchises. Working throughout the nation, Evergreen has earned a reputation as an industry leader by delivering high-quality real estate developments and services reliably, efficiently and cost effectively. The company has over 50 employees with offices in Arizona, California, Colorado and Utah. Evergreen is currently engaged in the development of more than 60 retail and apartment projects and has completed more than 500 projects. www.evgre.com.