Hines has sold Sentio, a luxury multifamily community located at the northwest corner of Happy Valley Road and 35th Avenue in North Phoenix, Ariz.
The property was developed by a joint venture between Hines and MetLife Investment Management. The buyer was IDEAL Capital.
“Sentio is a premier asset within an exceptional location that meets the growing need for luxury living in the area,” said Chris Anderson, senior managing director and city head of Phoenix at Hines. “This sale results from a successful development and leasing strategy for the project and creates valuable liquidity for Hines and our investors.”
Sentio, which boasts 328,830 square feet of high-end living space, is on a 13-acre site in the Deer Valley neighborhood. The community includes six three-story residential buildings alongside a clubhouse and fitness amenity center. Offering 325 luxury rental residences, Sentio provides a range of one-, two-, and three-bedroom apartments, all des