Phoenix – September 1, 2016 – CBRE has completed the sale of five multifamily properties in the metropolitan Phoenix area totaling more than $10.8 million. The firm’s Multifamily Investment Properties’ Brian Smuckler and Jeff Seaman brokered the following transactions:
- Sol at Christown is a 24-unit community located at 1717 W. Missouri Avenue in Phoenix. The buyer was American Self-Storage Bakersfield, LLC out of Carpinteria, Calif. The seller was Sir Julian, LLC of Phoenix. The property sold for $1,695,000.
- 28 on Thomas is a 27-unit community located at 1225-1241 E. Thomas Road in Phoenix. The buyer was 28 on Thomas, LLC of Cave Creek, Ariz. The seller was 12th & Thomas, LLC of Scottsdale, Ariz. The sale price was $2,400,000.
- New Valencia is a 20-unit community at 224 4th Avenue East in Buckeye. The buyer was Ross Lynch of Northridge, Calif. The seller was Janning and Wendy Chan of Orange, Calif. The sale price was $660,000.
- Fountain Villas is a 20-unit community located at 7325 E. Belleview Street in Scottsdale. The buyer was Fountain Villas, LLC of Cave Creek, Ariz. The seller was Urban International, LLC out of Regina, Saskatchewan, Canada. The property sold for $3,035,000.
- Paradise Place is a 57-unit community located at 16645 N. 31st Street in Phoenix. The buyer was Rosalie Mountain, LLC of Evergreen, Colo. The seller was Laurie Brooks and Gary and Tami Eilts of Laguna Beach, Calif. The sale price was $3,012,500.
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 owners, investors and occupiers through more than 400 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com.
