PHOENIX-A Los Angeles-based real estate investment firm has paid $7.25 million this week for a 280-unit apartment complex in Phoenix. BH Properties LLC bought Smoke Tree Apartments, situated near 31st Avenue, and just west of Metrocenter Mall, from Smoketree Wiener LLC.
The complex contains 15 buildings and was roughly 87% occupied at the time of closing. Transwestern's Phoenix office negotiated the deal on behalf of the seller. For the full story, go to Phoenix Business Journal .
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