Sought-After Midtown Phoenix Multifamily Asset Sells for $19 Million

Press Release (ePRNews.com) - PHOENIX - May 22, 2017 - Club 7 Apartments, a 219-unit, urban infill multifamily community at 3030 N. 7th St., Phoenix, sold for $19,000,000 or $86,758 per door.

Lee & Associates brokers Todd Braun, Principal and Bryson Fricke, Associate sold the property on behalf of 3030 North Equity, LLC, Portland, OR. The sought-after property was in high demand with multiple offers. In the end, P.B. Acquisitions, LLC, Austin TX acquired the prized asset. Holliday Fenoglio Fowler (HFF) facilitated financing for P.B. Acquisitions, LLC.

The property sits on 7.3 acres in the popular Midtown Phoenix submarket, directly across the street from the Phoenix Country Club and close to trendy restaurants and other urban amenities. The apartment community was significantly renovated in both 2015 and 2016. The project originally dates back to 1949 and 1952 (in two phases).

For more information:

TODD BRAUN | PRINCIPAL
602.474.9550; tbraun@leearizona.com

BRYSON FRICKE | ASSOCIATE
602.912.3521; bfricke@leearizona.com

About Us:

Now in our 26th year, Lee & Associates Arizona specializes in providing exceptional commercial brokerage services to the industrial, office, retail, investment, multifamily, and land sectors of the Phoenix commercial real estate market. The Phoenix office was established in 1991 and is now recognized as one of the most successful brokerage firms in the state.

Each of our North American Lee & Associates offices has a strong local ownership combined with a powerful platform from the national Lee & Associates network.

www.lee-associates.com/arizona

Source : Lee & Associates
Business Info :
Lee & Associates Arizona

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CATEGORIES : Real Estate
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