PHOENIX—ABI Multifamily has brokered the bulkcondominium sale of Scottsdale Haciendas, a condo conversioncommunity that is located in Scottsdale. The purchase consisted of79 garden-style condominium and townhome units (out of an original180 units total on the property) and transferred HOA control to thebuyer. Scottsdale Haciendas sold for $9.25 million, whichreflects a price just over $117,000 per unit. The sale is thesecond condominium transaction brokered by ABI Multifamily in thepast week, with the two sales combining for nearly $16 million intransaction volume.

The Phoenix-based ABI Multifamily brokerage team ofDoug Lazovick, EddieChang, John Kobierowski, AlonShnitzer and Rue Bax represented both theseller and buyer in this transaction.

Chang tells, “Thebuyer obtained 75% loan to value financing through a Canadianlender. There are so few transactions like this. A year ago wewould not have been able to attain financing like this. But thecondo market has improved, and of course it's dependent upon thefundamentals of each particular property. There are a lot of movingparts to get financing.”

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