Scottsdale Townhome-Apartment Community Changes Hands
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SCOTTSDALE, AZ-A Marcus & Millichap Real Estate Investment Services statement has revealed that an apartment community in south Scottsdale has changed hands for approximately $4.27 million. DSRM LLC, a new entity formed by Scottsdale-based Finesse Construction and Mesa-based United Home Equities LLP, purchased the 18-unit apartment complex, named Villa Contento.
Three years ago, the complex was constructed as a townhome community with plans for 38 units, but the Great Recession stalled the development at 18 units. KW Commercial's Brock Danielson represented the buyer. For the full story, go to Phoenix Business Journal .
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