(Read more on the multifamily market.)
GLENDALE, AZ-Abacus Capital Group LLC has continued itsinvestment in the market, paying $25 million for the Pavilions atArrowhead. The 248-unit, class B-plus asset was the seller's lastholding in the region.
Jerry Tenge, senior vice president with Colliers International'sPhoenix office, says Wayne A. and Janis E Loftus of San Diego willlikely redeploy their gain from the sale of 7400 W. ArrowheadClubhouse Dr. into a 1031 exchange closer to home. Tengerepresented the seller along with Colliers associate Josh Hironsand senior vice president Jon Busse.
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