(Read more on the multifamilymarket.)
PEORIA, AZ-Within months of its delivery, the 163-unit AlexanBella Vista has been sold to a private fund from Seattle for $27.7million. Additionally, Opus West Corp. and Trammell CrowResidential are now marketing its just-completed sister, the240-unit Alexan Paradise Lane.
Sean Cunningham, vice chairman in CB Richard Ellis' Phoenixoffice, tells GlobeSt.com that James Almond, principal ofPrivatePortfolio Group LLC of Seattle, had negotiated a price withthe sellers before the best-and-final call for offers. He saysAlmond's plans for the 75%-leased complex at 7677 W. Paradise Laneare lease it up and keep it as a long-term hold.
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