PHOENIX-Crown-Phoenix Artesa I, an affiliate of New York-based Petrus Partners Ltd., has purchased nearly 63 acres of land near the southeast corner of 43rd Avenue and Baseline Road in Phoenix. The company has bought the acreage from the Federal Deposit Insurance Corporation for a total amount of $3.2 million.
The property comprises 177 partly completed residential plots. Crown-Phoenix Artesa I is planning to keep the acreage as an investment. Cassidy Turley BRE Commercial negotiated the deal on behalf of the seller.For the full story, go to Phoenix Business Journal.
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