Desert Place Apartments recently sold for $11,300,000 ($43,462/unit). The 260-unit property spans across ±7.83 acres with excellent frontage along 27th Avenue. Near the I-17 Black Canyon Freeway, Desert Place has easy access to freeways, schools (Grand Canyon University), hospitals (Abrazo Medical Group – Bethany), shopping (Christown Spectrum Mall) and dining. The property is located in a well-established Phoenix submarket.
Bob Farrell, Vice President of ORION Investment Real Estate, facilitated the off-market sale.
Phoenix-based Jevan Capital, Pllc was the Buyer in this transaction. The Seller was IPA Phoenix-Foxwood, LLC based out of Michigan.