PHOENIX-A $3.37-million offer gave C&C Acquisitions of Tempe title to a well-maintained, 84-unit apartment complex with a solid tenant base in an established West Phoenix neighborhood.

Formerly owned by Covaciu LLC of Phoenix, the Orangewood Place apartments at 7328 N. 27th Ave. was only on the market about 30 days when the Tempe acquisitions firm moved in with a winning bid. The 52,080 sf, four-building property, comprised of 52 one-bedroom and 32-two bedroom units was 96% occupied at the time of sale. Rents range from $510 to $610 per month.

“It’s a good bread-and-butter property and one that has been well maintained and operation,” said one of the brokers involved in the sale. Todd Braun, Paul Gross and Brett Polachek, all of CB Richard Ellis Inc.’s Phoenix office represented the seller in the transaction. The buyer was assisted by James Butwin of the Classic Capital Group of Tempe, AZ.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


© 2023 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.


GlobeSt. Multifamily Fall 2023Event

Join the industry's top owners, investors, developers, brokers & financiers at THE MULTIFAMILY EVENT OF THE YEAR!

Get More Information


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join now!

  • Free unlimited access to's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including and

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2023 ALM Global, LLC. All Rights Reserved.