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Indigo Palms in Phoenix has traded hands for $75 million. Knightvest Capital, in the purchase of the property from a high-net-worth individual in an off-market transaction and secured a $57 million acquisition loan.

The property is an 432-unit, garden-style multi-housing community in Phoenix, Arizona. It consists of 28 two-story buildings that encompass a mix of one-, two- and three-bedroom units totaling 404,987 rentable square feet and is 94% occupied.

Kelsi Maree Borland

Kelsi Maree Borland is a freelance writer and editor living in Los Angeles whose work has appeared in such publications as Travel + Leisure, Angeleno and Los Angeles Magazine.

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