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PHOENIX-Apartment Investment and Management Co. is bringing a five-property portfolio of class B units to market. The 90%-occupied portfolio contains 1,628 units throughout the metro area, and was built in the early to mid 1980s.

Tyler Anderson, vice chairman with CB Richard Ellis’ Phoenix office has the marketing assignment for the portfolio but declined comment to GlobeSt.com, citing Aimco’s preference that brokers not talk to the press. A generic sales letter from Anderson and his colleague, CBRE vice chairman Sean Cunningham indicated the portfolio is unpriced, and the seller will entertain one-off bids.

GlobeSt.com has previously reported that the Denver, CO-based Aimco is trying to freshen its portfolio with the sale of older assets. Earlier in the year, the company disposed of class B assets in San Antonio, TX. Aimco did not return calls seeking comment at deadline.

The Arizona portfolio up for sale consists of two assets in Mesa, with the remainder in Chandler, Phoenix and Tempe. The Mesa properties are the 266-unit Shadow Creek Apartments at 2354 West University Dr. and Woodcreek Apartments, a 432-unit property at 1710 W. Gilbert Rd.

In Chandler, the 432-unit Los Arboles and Vista Del Lagos at 1586 W. Maggio Way is available. Also on the market are the Tempe-based 272-unit Pine Shadows Apartments at 4839 S. Darrow Dr. and Wickertree Apartments, a 226-unit property at 20003 N. 23rd Ave. The portfolio has one-, two- and three-bedroom apartments with rents averaging between $600 and $900 per month.

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