(To read more on the multifamily market, click here.)
PHOENIX-Domain Communities has closed on a second property fromits $84-million, 1,339-unit, six-complex portfolio. The NewYork-based company sold the 120-unit Oxford Place to Phoenix QueenLLC of Calabasas, CA for $5.7 million.
The buyer plans an additional $200,000 to $300,000 investment inupgrades to the class B complex at 6801 N. 25th Dr. "He plans toadd fencing around the property, paint the building and raise therents," says Alon Shnitzer, an investment associate with Marcus& Millichap's Phoenix office, who represented the buyer.
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