The buyer was Trinity Apartments of Canada. The sellers were the Romeli Group, LLC., Allen Iseri and Patricia F. Iseri, Supra Color Enterprises and Midence Family Limited Partnership. Brian Smuckler and Jeff Seaman with CBRE’s Phoenix office represented both the buyer and the seller in the transaction.
The 66-unit property was originally constructed in 1970. The property is comprised largely of two bedroom/two bath units averaging a thousand sq. ft. The buyer, Trinity Apartments, has plans to perform major renovations in order to reposition the asset.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2015 revenue). The Company has more than 70,000 employees (excluding affiliates), and serves real estate investors and occupiers through more than 400 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
