CBRE Completes $6.9 Million Sale of Two Central Phoenix-Area Multifamily Communities

PHOENIX, ARIZ. – November 2, 2018 CBRE arranged the sale of two Phoenix-area multifamily communities totaling $6.9 million. CBRE’s Brian Smuckler and Jeff Seaman represented the buyer and seller in both transactions.

Located at 1145 E. Mountain View Rd. in Phoenix, Mountain View Square is a 70-unit garden style apartment community built in 1984. The community, which is situated in a north Phoenix submarket, was acquired by Mountain View Venture, LLC, from MV Square, LLC, for approximately $4.4 million. Floor plans at Mountain View Square include a mix of studio and two-bedroom units.

Signature 18 is an 18-unit mid-century apartment community located at 2014 W. Berridge Lane in Phoenix. Anthom Investments, LLC, sold the property to Dev Properties, LLC, for $2.5 million. Built in 1961 and renovated in 2017, the community offers one-, two- and three-bedroom units. The property is within walking distance to Valley Metro light rail and Christown Spectrum Mall located at 19th Avenue and Bethany Home Road.


About CBRE Group, Inc.

CBRE Group, Inc. (NYSE:CBRE), 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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