Vasile and Florico Avram of Phoenix paid $860,000 for the West Winds Apartments, a mix of studio, one- and two-bedroom units at 4635 N. 27th Ave., which weren't on the market when the couple made the offer to sellers Paul and Rose Sharman of Carefree. Steve Nicoluzakis, with Grubb & Ellis/BRE Commercial, tells GlobeSt.com that the buyer exchanged several smaller apartment properties to trade up to the larger West Winds complex.
"It fit his exchange and it was a nice bread-and-butter deal," Nicoluzakis says of the transaction, which he handled for both parties along with Grubb & Ellis/BRE Commercial broker David Fogler.
The 1979 vintage, two story complex, which rents for between $400 and $550 per month, was the second multifamily purchase for the Avrams in recent months, Nicoluzakis says. The couple also recently purchased Casa Hermosa at 1620 N. 51st St. in Phoenix.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.