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PHOENIX-A Minnesota-investment group has purchased an apartment complex in east Phoenix for $8.47 million.

Van Vliet Real Estate purchased the Hazeltree Apartments, a 310-unit complex at 2928 E. Osborn Rd. The complex was build more than 25 year ago and is now considered a low Class B or a Class C property. The sale price equates to approximately $28,000 per unit.

Denver-based Apartment Investment and Management Co. sold the complex.

The Phoenix office of Hendricks & Partners represented the seller, and the Houston office of Hendricks & Partners represented the buyer.

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