(Read more on the multifamily market.)
PHOENIX-A local buyer has paid $15 million to acquire the264-unit Quail Point Apartments in a one-off transaction. The salemeans nearly half of a 1,240-unit value-add portfolio, valued at$76.8 million, has been sold or is in escrow.
"I'd say that her plan is to drive rents through capitalinfusion," Todd Braun, senior director for Cushman & Wakefieldof Arizona Inc., tells GlobeSt.com. New Castle Investments LLC isstill fine-tuning the cap-ex budget for the 90%-leased complex at3045 N. 67th Ave.
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