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FLAGSTAFF, AZ-A private investor from Salt Lake City has purchased a 132-unit apartment complex in the northern Arizona town of Flagstaff. The $8.9-million selling price equates to $67,424 per unit.

Investor Steve Urry bought Forest Meadows Apartments, situated at 1000 W. Forest Meadows St., from Judy Bassham, a private investor from San Diego, who had owned the property for nine years.

Flagstaff is a growing rural community about 150 miles north of Phoenix. The city, which is home to Northern Arizona University, has grown significantly in the past decade and is a haven for second-home owners in the Valley. It now has a population of more than 60,000.

Doug Fielding of Marcus & Millichap’s Phoenix office represented the buyer. Patrick Slavin of the Phoenix office of Hendricks & Partners acted on the seller’s behalf.

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