One Camelback opens for pre-leasing as luxury apartment conversion nears completion

One Camelback has hit another milestone as the 11-story glass tower is now more than 90% completed and available for pre-leasing.

BY HELENA WEGNER/PHOENIX BUSINESS JOURNAL

Jun 8, 2026, 5:01 AM

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One Camelback has hit another milestone as the luxury apartment complex is finally on the verge of completing its offices-to-apartments conversion project.

The 11-story glass tower is now more than 90% completed and available for pre-leasing, about six months since Mesa-based Kinella Capital LLC acquired the former BMO bank building for $36 million in the wake of an earlier foreclosure sale after the original developer defaulted on the loan.

The project — located at the prominent Central Avenue and Camelback Road intersection — is anticipated to be completed by early September, Kinella Capital’s founder and CEO, TK Stratton, told the Business Journal.

Stratton said the “hard lift has been completed” including the plumbing, HVAC systems, electrical and soft water systems.

This story is posted in partnership with Phoenix Business Journal. Click to read the full story.