CHANDLER, AZ-Weidner Investment Services has acquired OcotilloSprings, a 272-unit apartment complex, for $24.7 million. Theluxury property represents the Kirkland, WA-based buyer’s fifthinvestment in the Phoenix market since June.
Situated within the Ocotillo master-planned community at 825 W.Queen Creek Rd., Ocotillo Springs was sold by a Boston-basedprivate equity firm that had owned the property for more than eightyears. It had a list price of $25.52 million.
During its 30-day marketing period, the 12-year-old property wasshown 40 times and received 35 offers, according to Tyler Anderson,vice chairman of CBRE’s Phoenix office. He and Sean Cunninghambrokered the deal.
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