11/5/2007

Hendricks & Partners directs $11.85M multi-family sale in Ariz.

by

Lindsay Palms

Mr. LaBenz

Beverly Hills, Calif.-based Property Growth Fund V LLC has purchased the Lindsay Palms, a 132-unit multi-family property in Mesa, Ariz., for $11.85 million from Longmont, Colo.-based Signature Lindsay Palms, LLC.

Chuck LaBenz of Hendricks & Partners' Phoenix office represented the seller in the transaction.

The property was built in 1998 on 6.155 acres and is located at 2855 East Broadway Rd. Mesa is located approximately 20 miles east of Phoenix.

LaBenz is an associate partners with Hendricks & Partners and authored an article entitled Phoenix Multifamily Market, which appeared in the July 2006 issue of Western Real Estate Business.

Address: 2855 East Broadway Rd., Mesa, Ariz.

Size: 132 units

Built: 1998

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Filed Under: Multi-Family

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