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PHOENIX-A Los Angeles investment group hawks its lone holding in the region, walking away with $5.6 million for a class B, 136-unit complex at 8445 N. 23rd St. in Phoenix.

The Greens, which fronts the El Caro Golf Course, hit the market April 15 and sparked a lot of interest from would-be buyers, Mark Forrester of Hendricks & Partners’ Phoenix office tells GlobeSt.com. It was all about location. The 21-year-old community is situated in the Metrocenter submarket, near Interstate 17 and in a strong employment area. “It is a very nice location,” he stresses. The golf course views certainly didn’t handicap the sale or the interest in the property.

YF Partners Green LP acquired the property, boasting a low 90% occupancy at sale time, in January 1996. Sunland North LLC and Mesa Villa LLC, both of Fountain Hills, AZ are the buyers.

In addition to Forrester, the Hendricks & Partners negotiating team consisted of Andrew Tate and Chuck LaBenz. The trio represented buyer and seller in the deal.

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