(To read more on the multifamily market, click here.)
SCOTTSDALE, AZ-Ending a 10-year hold, a San Diego investor hasparted with the 321-unit Regents at Scottsdale. The class Acomplex, fetching multiple offers, has sold for $52.96 million toan Idaho-based buyer.
Built in two phases during 1997 and 1998, Regents at Scottsdaleat 15555 N. Frank Lloyd Wright Blvd. had a quick marketing period,but a long escrow. According to Mark Forrester, partner with thePhoenix office of Hendricks & Partners, there was nothingbehind the longer escrow other than the seller wanting to ensurethat all loose ends would be tied up before closing.
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