Club 7 Apartments, a 219-unit, urban infill multifamily community at 3030 N. 7th St., Phoenix, sold for $19,000,000 or $86,758 per door.
Lee & Associates brokers Todd Braun, Principal and Bryson Fricke, Associate sold the property on behalf of 3030 North Equity, LLC, Portland, OR. The sought after property was in high demand with multiple offers. In the end, P.B. Acquisitions, LLC, Austin TX acquired the prized asset. Holliday Fenoglio Fowler (HFF) facilitated financing for P.B. Acquisitions, LLC.
The property sits on 7.3 acres in the popular Midtown Phoenix sub-market, directly across the street from the Phoenix Country Club and close to trendy restaurants and other urban amenities. The apartment community was significantly renovated in both 2015 and 2016. The project originally dates back to 1949 and 1952 (in two phases).