Nov. 18, 2013- Colliers International in Greater Phoenix recently completed the $6.53 million sale of the 100-unit Sonoma Place, located at 11600 N. 75th Ave. in Peoria, for $65,300 a unit, or $80.33 a square foot.
Denver-based Investment Property Exchange Services acquired Sonoma Place from Mentor Properties of Scottsdale. Bill Hahn, Jeffrey Sherman and Trevor Koskovich of Colliers’ HSK Multifamily team represented both parties.
Built in 1985, Sonoma Place is a two-story apartment complex with two bedroom/two bathroom units on 7.4 acres with 81,280 net rentable square feet. Recent renovations include new interior and exterior paint, landscape enhancements, refinished countertops, improved fixtures and the installation of washers and dryers into units.
Common amenities include a swimming pool, spa, outdoor barbecues, business center, playground and large grassy courtyards.
Sonoma Place is near higher education opportunities and entertainment destinations including Glendale Community College, Arizona State University’s West Campus, Arrowhead Towne Center, Westgate Entertainment District and University of Phoenix Stadium.