The buyer, Aqua Investors Inc., has shelled out $19.5 million for the property, which stands at 951 Las Palmas Entrada. Built in 1999, Allegro at La Entrada is a controlled-access community featuring spacious floor plans. Amenities include a fitness room and sauna. The property was 93% occupied at the time of sale.
A CB Richard Ellis brokerage team consisting of Tyler Anderson and Sean Cunningham of the firm's Phoenix office, along with Jeff Swinger and Spence Ballif based in the company's Las Vegas office, acted on behalf of SNK Development.
An affiliated company of SNK Realty Group, SNK Development sources, plans, entitles, finances and executes the land acquisition and development of all the properties for the Phoenix-based firm. SNK Realty's portfolio currently consists of eight class A operating properties totaling 2,076 units, as well as five more complexes that are under development.
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