(Read more on the multifamily market.)
MESA, AZ-A California company has beat out more than a dozenhopefuls to lay claim to the 224-unit Windemere Apartments. Thebuyer has paid $22.45 million to ERP Operating LP for the class Bcomplex.
Grubb & Ellis/BRE Commercial LLC senior vice president DavidFogler says Acacia Capital Corp. managed to win the deal for thecomplex at 2020 E. Inverness Ave. because of its market familiarityand comfort with the product type. "Their timing was better andthey were competitive on price," adds Fogler, who partnered withGrubb & Ellis senior vice president Steven Nicoluzakis to sellthe asset. The buyer was self-represented.
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