Morgan Launches Its First Multifamily Growth in Phoenix with Opening of The Pearl Biltmore Luxurious Residence Neighborhood

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Morgan Launches Its First Multifamily Development in Phoenix with Opening of The Pearl Biltmore Luxury Apartment Community

PHOENIX, AZ – MORGAN, a Houston-based leader in multi-family development, construction, acquisitions, and property management, has opened the Pearl Biltmore, its first multi-family luxury community in the Phoenix market. Located near the intersection of Highland and 24th Street, the 472-unit project is a joint venture between MORGAN and Mesirow.

Pearl Biltmore contains 19 unique floor plans in a mix of studio, one, two and three bedroom apartments, including several loft units. The five-acre property is surrounded by more than 7.4 million square feet of Class A office space, doctor's offices, resorts, and numerous retail and dining destinations, including Biltmore Fashion Park. Less than 1 mile from State Route 51, the property provides convenient access to downtown and the Phoenix Sky Harbor International Airport.

"We are very excited to open our first investment in Phoenix," said Vice Chairman Alan Patton. "With shopping, dining, entertainment and everyday amenities on your doorstep, Pearl Biltmore offers residents a lifestyle among the most desirable neighborhood amenities rolled into one." of the best sub-markets in the valley. Within the community, we offer a variety of first-class amenities that stand for the Pearl brand. "

The Pearl Biltmore's premium amenities include luxury vinyl plank floors in the living area. Nest thermostats; Full size balconies or patios; open plan kitchens with stainless steel appliances, LED lighting under the cupboard, quartzite countertops, and glass tile backsplash; Quartzite worktops and backsplash in the bathroom area as well as LED mirrors with backlighting. Select residences offer skyline views, walk-in closets, movable kitchen islands, walk-in glass showers, and whirlpools.

Outside of the units, the property offers other Pearl extras, such as a two-story fitness center with a cardio / weight training area and a fitness-on-demand studio. a club room with lounge seating and media wall; two resort-style pool decks with grill stations, cabanas, and bistro seating; a picturesque sky lounge with an indoor and outdoor catering kitchen, a media wall and a WiFi counter; a co-working lounge with a computer bar, a printer station, a refreshment center and a private office pod; a bark park with a washing area for pets; a bicycle storage room with repair tools; and 24/7 parcel retrieval.

Alasdair Cripps, Chief Executive Officer and Co-Chief Investment Officer of Mesirow's Institutional Real Estate Direct Investments, said: "We are delighted to be working with MORGAN on this latest investment in Phoenix, one of the strongest multi-family markets in the country. Luxury, from the exclusive and stylish ambience of the property itself to the first-class amenities for the residents and the comfort and adventure that the exceptional location offers. "

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