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SCOTTSDALE, AZ-A Denver-based real estate investment group has acquired the 330-unit Joshua Tree Apartments in north Scottsdale, paying $21 million to the Calgary, Alberta-based limited liability company that has owned the complex for four years.

TR 330 has paid more than $63,636 per unit. The complex is located at 11545 N. Frank Lloyd Wright Boulevard in north Scottsdale.

The Joshua Tree Apartments is situated about three miles east of the Pima Freeway, part of the Loop 10 system, and about a half mile north of Shea Boulevard. The McDowell Mountain Range lies to the north and the Salt River Pima-Maricopa Indian Community is south, where there are vast acres of unusable open space. The complex is surrounded by some of the most expensive homes and lush master-planned communities in the Valley.

The Phoenix office of Marcus & Millichap, with brokers Peter Katz and Karl Abert, has represented the buyer. Brokers Sean Cunningham and Tyler Anderson of CB Richard Ellis’ Phoenix office has acted on behalf of the seller, Joshua Tree Holdings LLC.

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