PHOENIX— In this edition of Deal-Tracker, La Villa Apartments recently sold for $1 million or $33,333 per unit consideringthe apartments sold for $50K less than the original asking price. Vice president of Sperry Van Ness, LLC, Danny Lee represented both the buyer and the seller in this multifamily sale. The property is located at 4117 N. 15^th Ave. in Phoenix, which is in the central phoenix corridor near the Phoenix light rail system.

We all know that every prospective buyer wants to look at rent rolls and profit and loss statements prior to the purchase. This factor, among others is detrimental in the decision-making process. The property listing was listed for sale a little over one million dollars. The challenge with this transaction was the seller did not keep updated accounting records of the property history. As the prospective purchase came to a head, the agreement was a price reduction and the buyer was satisfied.

“I represented the buyer and the seller, so it made the communication between my clients much easier than this possibly could have been.” Lee explaines that the seller was still happy with the final transaction, which was handled by Nikki Leonard with Intravest Title Agency.

PHOENIX—Marcus and Milichap announces the sale of Tidewood, a 49-unit apartment community located in Phoenix, According to Don Morrow, regional manager of the firm's Phoenix office. The asset sold for $3 million.

Trevor Hardy, investment specialists in Marcus & Millichap's Phoenix office, had the exclusive listing to market the property on behalf of the seller, a private investor. The buyer, a limited liability company, was also secured and represented by Trevor Hardy.

Tidewood is located at 4021 & 4025 N. 40th Stt/ in Phoenix..

PHOENIX—JLL's Ccpital markets experts announce that the firm has completed the sale of three “Dos Gringos” Restaurants located in Chandler, Tempe, and Scottsdale. The purchaser was Store Capital, a publicly traded net lease REIT based in Scottsdale,. The purchase price for the portfolio was $4.7 million or $379 per square foot and totalled 12,431 square feet.

The properties were located at: 1361 N. Alma School Rd., Chandler.; 4209/4213 N. Craftsman Court, Scottsdale; 8000 S. Priest, Tempe

Matt Berres and Tyson Switzenberg led the JLL team on this transaction

Instant Insights /

Deal Tracker: Retail and Mutifamily

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