For their money, the Seattle based LLC got the Las Brisas apartments, a 94%-occupied class A complex at 8011 N. 7th St. in Phoenix's prestigious North Central Corridor."You just can't find this kind of quality property on the market right now," Bert Kempfert with of CB Richard Ellis Inc.'s Phoenix office, tells GlobeSt.com. "It has solid intrinsics and a great location. It's unique."
Developed in 1992 by Evans Withycombe, the upscale units feature large floor plans with wood-burning fireplaces, full-size washers and dryers, gated entry, three pools and lighted tennis courts. The complex also offers gated access to miles of jogging and biking trails along the Arizona Canal.
Kempfert represented the seller LBA Phoenix LLC of San Francisco, a subsidiary of RREEF Funds, one of the largest pension advisers in the world, in the transaction. The buyer did not have representation.
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