SCOTTSDALE, AZ-Business Real Estate Weekly reports that Equity Residential Trust has unloaded another multifamily property. The Chicago-based seller sold the 328-unit Via Ventura apartments to Greystar Real Estate Partners LLC for $36.5 million.
According to BREW , the property at 8375 E. Via de Ventura Dr. was financed through a $27.1 million Fannie Mae loan, issued courtesy of Prudential Multifamily Mortgage LLC. The complex was built in the late 1970s.
The sale of Via Ventura means that EQR has sold 4,380 units across 17 multifamily properties in the region so far this year. BREW also reports that the REIT is exiting Phoenix to focus on acquisitions on the east and west coasts. Read more about the story here.