Marcus Holdings LLC of Phoenix took ownership of the Oregon Oasis Apartments at 6012 W. Oregon Ave. just weeks after Farnam Realty Inc. of Scottsdale put the property on the market in an exchange transaction for both parties.
Todd Braun with CB Richard Ellis Inc.'s Phoenix office says the transaction allowed the seller to purchase a complex in Tucson and gave the buyer an investment opportunity following the $6.2-million sale of the 156-unit Veranda Apartments in Phoenix.
Built in 1973, the Oregon Oasis complex, comprised of two- and three-bedroom units with rents ranging from $625 to $755 per month, was about 90% occupied at the time of closing. Braun along with Bert Kempf, also with CB Richard Ellis, represented the seller in the transaction. Braun also handled the deal for the buyer.
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