Camden paid $11.5 million for the Presidio at McCormick Ranch, a164-unit apartment complex in the McCormick Ranch master-plannedcommunity. The complex stands on nearly 15 acres in the 9600 blockof North 96th Street.
Apartment projects in most parts of greater Phoenix have faredwell over the past several years as the region's population hassteadily grown. The 11-year-old Presidio complex was 96% occupiedat the time of sale.
The local office of CB Richard Ellis represented Camden and theseller, a private investment group known as Presidio JointVentures.
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