12/18/2007

Colliers International sells Phoenix apartments for $41M

by

The Saddle Club Apartments

Irvine, Calif.-based Bethany Group, LLC has sold the 515-unit Saddle Club Apartments in Phoenix, Ariz., for $41.2 million to a private investment company with institutional backing.

Colliers International's Cindy and Brad Cooke, along with Carrie Burton, represented Bethany Group in the transaction.

Built in 1970, the apartment complex is located on 26 acres at 3730 South Mill Ave. and sold for an average of $80,000 per unit. It consists of 31 two-story buildings and was 98 percent occupied at the time of sale.

Address: 3730 South Mill Ave., Tempe, Ariz.

Size: 515 units

Built: 1970

---

Filed Under: Multi-Family

E-mail this article to a friend | Printer friendly format| DIGG this| Post to del.icio.us

Comments on this article

No comments have been posted in the last 15 days!

Send us your comments on this article

* - Required fields Subject: * Message: * Contact Name: * Contact URL: Contact Email: * Write the text from image below to this textbox

crefeed.com -- Related Headlines

• GPX Realty completes improvements at PA apartments - 1/1/2009
• Blue Rock Village multi-family sells for $54.4M - 12/31/2008
• Hendricks & Partners sells Denver multi-family - 12/29/2008
• Connecticut gated community fetches $10.6M - 12/29/2008
• Hendricks & Partners sells Newport Beach apartments for $1.55M - 12/26/2008
• Aurora multi-family sells for $15.1M - 12/26/2008
• Clearwater apartments bring nearly $7M - 12/26/2008
• Four St. Louis-area properties sold - 12/18/2008
• 122-unit townhome community near Dallas sold - 12/18/2008
• NAI closes two-year Tampa Bay apartment deal - 12/16/2008