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YUMA-In one of the largest sales of the year in this southwestern Arizona city, a Tucson-based investment company has purchased an apartment complex for $14 million.

The 2000 Yuma Apartments Properties L.P.purchased the Alexandrite Sands Apartments, a 312-unit property at 1600 W. 12th St. The complex is just west of Interstate 8.

The seller is another limited partnership, Tucson-based Alexandrite Sands Limited Partnership. The limited partnership has owned the complex for 10 years.

Yuma is in the southwestern corner of the state, just miles from the California and Mexico borders. The city’s 71,000 residents are mostly retirees.

The Phoenix office of Marcus & Millichap represented the seller, and the Sacramento office of Marcus & Millichap represented the buyer.

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