Phoenix – August 10, 2016 – CBRE has completed the sale of five multifamily properties in the metropolitan Phoenix area totaling $11.7 million. Brian Smuckler and Jeff Seaman, of the firm’s Multifamily Investment Properties group, brokered the following transactions:
- Sandalwood Square is a 68-unit community located at 4325 N. 23rd Avenue in Phoenix. The Buyer was HK 24th Street, LLC of Phoenix and the Seller was ADJ Holdings, LLC of San Marcos, Calif. The property sold for $3,800,000.
- Cottages at Hayward is a 30-unit community located at 2020 W. Hayward Avenue, Phoenix, AZ. The Seller was KEVIN BRENT SAUNDERS, Trustee of The Kevin Brent Saunders Revocable Family Living Trust of Los Angeles, California. The buyer, ANANDA 108 LLC, an Arizona limited liability company from San Diego, Calif., purchased the property for $2,375,000.
- Studios on 12th Street is a 41-unit community located at 4130 N. 12th Street in Phoenix. The seller was Encanto Indian School, LLC. The buyer was John and Jodi Haller. The sale price was $2,080,000.
- The 34th Place Apartments is a 45-unit community located at 2932 N. 34th Place, Phoenix, AZ. The seller was 34th Place Investments, LLC of CITY, ST. The buyer was Phoenix-based Bauhaus Capital, LLC and purchased the property for $2,025,000.
- Desert Winds is a 24-unit located at 21420 N. 23RD Avenue in Phoenix. The seller was GENESSIS INVESTMENTS, LLC of Glendale, Ariz. BLUEBERRY APARTMENTS, LLC of Los Angeles acquired the property for $1,460,000.
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.
