SCOTTSDALE, AZ-A Marcus & Millichap Real Estate InvestmentServices statement has revealed that an apartment community insouth Scottsdale has changed hands for approximately $4.27 million.DSRM LLC, a new entity formed by Scottsdale-based FinesseConstruction and Mesa-based United Home Equities LLP, purchased the18-unit apartment complex, named Villa Contento.
Three years ago, the complex was constructed as a townhomecommunity with plans for 38 units, but the Great Recession stalledthe development at 18 units. KW Commercial's Brock Danielsonrepresented the buyer. For the full story, go to Phoenix Business Journal .
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