Korman Communities, RXR enter Phoenix market
Transactions - MARCH 17, 2022

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Korman Communities, RXR enter Phoenix market

by Released

Korman Communities, in partnership with RXR, has completed the purchase of its first property in the Phoenix market. AVE Phoenix Terra is a new, 348-unit, seven-story, professionally managed, class A property boasting 60,000 square feet of amenity space, and it offers a unique flexible-stay living solution in Downtown Phoenix.

“We are focused on growing our AVE portfolio of first-class residential properties in key growth markets across the United States. This acquisition represents the first of many new ventures in Phoenix,” said Bradley Korman, co-CEO of Korman Communities.

AVE will be introducing its furnished apartment service, offering flexible month-to-month leases to the Phoenix market. All furnished apartments include a custom furniture package, a fully accessorized kitchen, a washer and dryer in residence, a linen package, and all utilities.

“We are a solution for individuals who need a comfortable, flexible place to stay for 30 days or more. The

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