Long-Time Owner Parts With Rock-Solid Investment

Western Wealth Capital was in search of an exceptional asset with upside potential.

TEMPE, AZ—Signature Place Condominiums is located in the south Tempe submarket and is only a few miles from Discovery Business Campus (where Northern Trust is bringing more than 1,000 jobs), ASU Research Park and Chandler’s prestigious Price Technology Corridor dubbed the Silicon Valley of the Desert. The multifamily project was originally built in 1996 and converted to condominiums in 2006.

It recently sold for $40 million which translates to $133,000 per unit. The buyer is Western Wealth Capital, an experienced Phoenix Metro multifamily investor. The seller is Duluth, MN-based, Mercury Investment. Mercury Investment is a national real estate investment group with interests in hotels, multifamily, office and real estate development. The Phoenix-based ABI Multifamily brokerage team of Doug Lazovick, Eddie Chang, Alon Shnitzer, John Kobierowski and Rue Bax represented both buyer and seller in this transaction.