CBRE Brokers Sale of Phoenix Apartment Community for $7 Million

Phoenix, Ariz. – CBRE has arranged the $7 million sale of 801 Turney, a 61-unit garden-style apartment community with value-add potential located at 801 West Turney Avenue in Phoenix.

Brian Smuckler, Jeff Seaman and Derek Smigiel with CBRE represented both the seller, New York, New York-based 801 West Turney, LLC, and the buyer, Geiger Properties I, LLC of Hermosa Beach, Calif.

Built in 1963 and extensively renovated between 2015 and 2017, the property is comprised of well-designed one- and two-bedroom floorplans that range from approximately 600 to 710 square feet. Exterior amenities include a swimming pool, community dog park, a gazebo with multiple gas barbeques, covered parking, an on-site laundry facility and a designated leasing office. The property benefits from its prime location in the Melrose District in Midtown Phoenix and its proximity to Seventh Avenue and the Camelback Road Metro Light Rail stop.

 

About CBRE Group, Inc.

CBRE Group, Inc., a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2017 revenue). The company has more than 80,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.

 

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