Kinella Capital Acquires One Camelback Tower in Phoenix

Date: December 2025

Source: ConnectCRE

Kinella Capital has acquired One Camelback, a 163-unit commercial-to-multifamily conversion project located at the former BMO Harris Bank Tower in Phoenix’s Uptown district. The high-rise property is being transformed into a luxury residential community with panoramic views and premium urban amenities.

Post Road Group is providing financing to complete construction, and the project is now progressing toward delivery. According to Commercial Edge, Kinella Capital specializes in acquiring and completing complex development efforts — including stalled, lender-owned, and distressed assets — and has successfully stabilized multiple luxury multifamily projects across Arizona.

Reactivating a Stalled Landmark

The redevelopment of One Camelback originally began in 2019 but paused in 2023 when the project was roughly 85 percent complete. With Kinella’s acquisition and recapitalization, construction has resumed, with final completion targeted by the end of 2026.

A Cushman & Wakefield Equity, Debt & Structured Finance team of David Karson, Megan Schmitt, and Mitch Rothstein arranged the financing on behalf of Kinella Capital. Steven Nicoluzakis and David Fogler of Cushman & Wakefield’s Multifamily Investment Sales group represented Kinella in the acquisition.

Forward Momentum for Uptown Phoenix

One Camelback’s completion will add 163 high-end residences to the Central Avenue corridor, supporting the continued growth of the Uptown submarket. Kinella Capital’s hands-on development platform — combining real-estate investment, construction, and engineering expertise — positions the firm to deliver a landmark residential property that brings renewed life to one of Phoenix’s most recognizable intersections.

Media Coverage

Read the full article on ConnectCRE

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For more information about One Camelback or other Kinella Capital developments, please contact our team.