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The Battery

Phoenix, AZ

Ground-up development of a 278-unit Class A multifamily project in downtown Phoenix, Arizona.

Asset Type





278 Units

Key Investment Thesis

Opportunity to develop the first for-rent housing project within the Warehouse District, a burgeoning tech hub in downtown Phoenix that has seen significant revitalization within the broader submarket.

  • Extremely desirable location adjacent to Downtown Phoenix’s Chase Field, Footprint Center, and CityScape mixed-use hub.
  • Unique positioning within market as the first for-rent residential project in the Warehouse District and the only mid-rise product situated around the south end of downtown, which is otherwise characterized by luxury high-rise buildings.
  • Significant sustained growth of both the Downtown submarket as a whole, as well as the Warehouse District itself through entrants of new creative office user such as Galvanize, Web PT, Scientific Technologies Corporation, Seed Spot, CCBG Architects, Gould Evans, R&R Partners, Bentley Gallery and the ASU School of the Arts

JMA Value Creation

Acquisition of off-market site, navigating Phoenix’s construction market during a period of record high new development and COVID-19 impacts, ultimately derisking the project and delivering a highly competitive project within the market.

Navigated a volatile construction market while securing a competitive A&E and construction team while securing a favorable GMP contract with general contractor Hardison Downey.

Procured a best-in-class management team with Greystar and oversaw the successful lease-up of the project.

Identified an opportunity to participate in the Qualified Opportunity Zone tax program, allowing investors to benefit significantly from special tax treatment of capital gains from the IRS stemming from the Tax Cuts and Jobs Act of 2017.