Los Angeles Angels owner Arte Moreno paid $125 million for the Cortland Biltmore, nearly $500,000 per unit. Moreno has a history of purchasing real estate in the area. Moreno recently bought a 12-acre office complex in the Biltmore area for $60 million. He also paid $24.5 million for a 21-acre lot in Gilbert in April 2025 and $11 million for a 1.47-acre parcel near Camelback Road and 44th Street in September 2025. He owns a Biltmore residence.
Located in the heart of the upscale Biltmore neighborhood, the luxury apartments in North Phoenix offer high-end home features, designer finishes, and resort-style amenities that deliver boutique hotel-style living to you everyday. Gourmet kitchen features, built-in smart home technology, and private balconies (some with scenic mountainside views). Units from studio, one, two, and three-bedroom Biltmore apartments in Phoenix.
With convenience to Whole Foods and nearby shopping centers. Surrounded by scenic mountain and city skyline views.
Cortland built the apartment complex in 2019. The company has 239 assets under management, which amounts to 76,000 units in 25 markets.
Arte Moreno became a billionaire by building and selling the billboard advertising company
Outdoor Systems in the 1980s and 90s, which he sold to Infinity Broadcasting in 1999 for over $8 billion. He acquired the then-called Anaheim Angels baseball team in 2003, a team he still owns today.
