(Read more on the multifamily market.)
TEMPE, AZ-Following a $1.6-million renovation, an affiliate ofFairfield Residential LLC has sold the 376-unit FlagstoneApartments to another San Diego company. The seller beat nine bidswith its track record and $35-million offer for the class Bcomplex.
"The buyer's offer was the best, not by a wide margin, but asmall one. But, this was a proven buyer who had bought other thingsin town," says Mark Forrester with Hendricks & Partners'Phoenix office. The buyer of the 30 W. Carter Dr. property isRedhill Realty Investors LP.
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