crefeed.com | CBRE Phoenix orchestrates $27.7 million sale

10/8/2007

CBRE Phoenix orchestrates $27.7 million sale

by
A joint venture between SW Multifamily Portfolio Fund LLC and PrivatePortfolio Group has purchased the 163-unit Alexan Bella Vista in Peoria, Ariz., for $27.7 million.

Sean Cunningham, Tyler Anderson and Jack Hannum of CB Richard Ellis' Phoenix office represented the sellers, Trammell Crow Residential and Opus West Corp.

The complex will be managed by Pillar Communities of Scottsdale, a management unit of PrivatePortfolio Group LLC.

Built in 2007 on eight acres, the complex is currently 75 percent occupied and located at 7677 W. Paradise Lane.

Cunningham is a vice chairman at CBRE and has been with the company since 1980.

Anderson, a CBRE broker since 1983, concentrates on multi-housing properties and was the recipient of CBRE's National Teamwork Award in 2004. Together, Cunningham and Anderson have closed $8 billion in multi-family properties.

Hannum is the lead financial analyst for the Anderson-Cunningham team and has been with CBRE since 1998.

Address: 7677 W. Paradise Lane, Peoria, Ariz.

Size: 163 units

Built: 2007

Filed Under: Multi-Family

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