Two Multifamily Transactions Totaling $7.325M Sell in Metro Phoenix‏

Phoenix – CBRE has negotiated two multifamily transactions totaling $7.325 million in the Phoenix area.

In the first, Calgary, Alberta, Canada-based Coastal Properties, Ltd. purchased Mountain View Apartments, a 150-unit multifamily property located at 333 E. Van Buren St. in Avondale, Ariz., from, RND4, LLC of Irvine, Calif.

Brian Smuckler and Jeff Seaman of CBRE’s Phoenix office represented the buyer and seller in negotiating the $6.3 million ($42,000 per unit) transaction.

In the second transaction, Jones X 30, LLC of Chandler, Ariz. purchased Revival on 5^th Apartments, a 12-unit multifamily property located at 3611 N. 5^th Ave. in Phoenix, from Revival on 5^th, LLLP of Phoenix.

Brian Smuckler and Jeff Seaman of CBRE’s Phoenix office represented the seller in negotiating the $1.025 million ($85,417 per unit) transaction.

To learn more Smuckler can be reached at (602) 735-5688 and Seaman is at (602) 735-5634.