PHOENIX-One of the largest lender-facilitated dispositions inthe southwestern US has closed: the Bethany Kingdom I Arizonaportfolio, which consists of seven multifamily communities totaling2,759 units, has sold for $133.1 million.

Standard Portfolio, a real estate investment company, acquiredthe portfolio from LaSalle Bank N.A. through the restructuring ofthe existing CMBS bonds. Several weeks ago, the Arizona SuperiorCourt ruled the portfolio could be sold while in receivership.Hendricks & Partners was selected by the receiver, San Diego,CA-based Trigild Inc., to market the portfolio.

The portfolio includes the 460-unit Laguna Village; the 320-unitAlante at the Islands and the 374-unit Santana Crossing inChandler, AZ; the 432-unit Whispering Meadows and the 582-unitTuscany Palm in Mesa, AZ; the 395-unit Sienna Springs in Phoenix;and the 196-unit Verrado Park in Glendale, AZ.