11/6/2007

University Properties apartment portfolio goes for $21.4 million

by

University Pointe

Phoenix, Ariz.-based Colgate Group has purchased a portfolio of four apartment complexes in Tempe, Ariz., for $21.4 million from Corona del Mar, Calif.-based University Properties.

John Kobierowski and Greg Thielen of Hendricks & Partners' Phoenix office represented the seller in the transaction.

The four properties have a combined square footage of 303,239 and 169,520 square feet of rentable space.

The portfolio is located within walking distance of Arizona State University. University Place and University Pointe are located at 919 E. Lemon St., University Square is located at 1011 E. Lemon St., and University Gardens is at 1019 E. Lemon St.

Address: University Place and University Pointe at 919 E. Lemon St., University Square at 1011 E. Lemon St. and University Gardens at 1019 E. Lemon St.

Size: 303,239 square feet

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Filed Under: Multi-Family

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