Sale of Two Apartment Complexes Totals $4.7 Million in Phoenix Area

CBRE has negotiated the two following multi-family sales transactions totaling $4.7 million.

Sago, LLC of Evergreen, Colo. has purchased the Parkwood Villa apartment complex, a 67-unit multi-family property located at 1255 E. University Dr. in Mesa, Ariz., from Hayne A. Thompson of Scottsdale.

Brian Smuckler and Jeff Seaman of CBRE’s Phoenix office represented the buyer in negotiating the $3.825 million ($57,090 per unit) transaction. Ric Holway and Dan Cheyne of Hendricks-Berkadia represented the Seller in the transaction.

Twelve on Cambridge Nine, LLC of Scottsdale, Ariz. has purchased the Twelve on Cambridge apartment complex, a 12-unit multi-family property located at 1701 E. Cambridge Ave. in Phoenix, Ariz., from Boghoussian 4, LLC of Solana Beach, Calif.

Brian Smuckler and Jeff Seaman of CBRE’s Phoenix office represented the seller in negotiating the $880,000 ($73,333 per unit) transaction.

Smuckler and Seaman can be reached at (602) 735.5555.