10/19/2007

Colliers Phoenix brokers sale of $34 million multi-family property

by

Alegria

Baron Properties LLC has purchased the Alegria apartment community in Phoenix, Ariz., for $34 million from San Francisco-based Hamilton Zanze & Company.

Cindy Cooke of Colliers International of Phoenix brokered the deal along with Brad Cooke and Carrie Burton.

The 380-unit apartment community is located at 15202 N. 40th St. in the Paradise Valley submarket. It was constructed in 1986 on 13.11 acres and has recently undergone renovations on its clubhouse and fitness center. Baron Properties plans additional renovations on the interior and exterior of the property.

The complex currently has a 92 percent occupancy rate and contains 44 studio, 168 one-bedroom and 168 two-bedroom units.

Cooke has been in the multi-family sector of commercial real estate for 25 years. She is the former manager of Colliers International Arizona and in 2005 was among the top three multi-family brokers in the country. In 2007, Cooke was a nominee for the Arizona Woman of the Year award.

Address: 15202 North 40th St., Phoenix, Ariz.

Size: 380 units

Built: 1986

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Filed Under: Hotel/Resort

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