CBRE Multi-Housing Private Capital Group Completes Sales Totaling Nearly $4.75 Million in Metro-Phoenix

Bethany Palms
Bethany Palms

Phoenix – CBRE Multi-Housing Private Capital Group has negotiated four multi-family transactions in the past three weeks totaling nearly $4.75 million. Brian Smuckler and Jeff Seaman with CBRE Phoenix’s Multi-Housing Private Capital Group represented both parties in each transaction.

Bethany Palms

Camelback East Partners, LLC of Malibu, Calif. have purchased Bethany Palms, a 22-unit property located at 1142 Bethany Home Rd. in Phoenix, from Clear Sky Capital, Inc. in Phoenix. The asset commanded a price of $1.9 million ($86,400 per unit).

Country Club Manor

LCP Equity Partners LLC of Sacramento, Calif. has purchased Country Court Manor, a 27-unit property located at 1225-1241 E. Thomas Rd. in Phoenix, Ariz, from Phoenix-based SHPCC LLC. The asset commanded a sale price of $904,500 million ($33,500 per unit).

802 N. 4th Avenue

Peoria, Ariz.-based Canwood Enterprise, Inc. has purchased 0.72-acre parcel of land 802 N. 4th Ave. in Phoenix.  The seller was PMCM I LP of Gilbert, Ariz. The land, which sits on the northwest corner of 4th Avenue and McKinley Street, was sold for $725,000 ($23 PSF). The property, zoned multifamily residential, will eventually be developed for multifamily use.

Arbor Apartments
Arbor Apartments

Arbor Apartments

Paul Adams Palms, LLC of Pasadena, Calif. has purchased Arbor Apartments located at 1504-1548 W. University Dr. in Tempe, Ariz. The seller was Sircoff Investments LLC and Essy Investments, LLC of Walnut Creek, Calif. The 26-unit property sold for $1.22 million ($47,000 per unit).

Smuckler should be reached at (602) 735-5688 and Seaman is at (602) 735-5634.