(Read more on the multifamily market.)
PHOENIX-Looking to end a four-year hold and exit the metro, aSouthern California investment company is bringing a five-property,1,220-unit portfolio to market. The value-add portfolio is beingoffered for $78.6 million or $64,500 per unit.
Cindy Cooke, senior vice president with Colliers International'sPhoenix office, says UK Capital Inc.'s plan from the start was tohold the assets for a time, then sell them. "They were one of thefirst buyers in the marketplace when things began turning around,"she says. "Plus, the market improved dramatically. It was a goodtime for them to sell."
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