5
Dec
Investor Acquires Two Multifamily Apartment Complexes in Phoenix
Investor Richard Trull of Vancouver, WA acquired two multifamily properties in North Phoenix from builder Key Construction, which disposed of the assets as the down leg of a 1031 exchange.
Bell Villas 28, consisting of 28 units, sold for $4.4 million, or $157,000 per unit. Siesta 16, consisting of 16 units, sold for $2.4 million, or $150,000 per unit. At the time of closing, both properties were 100 percent occupied.
Bell Villas 28 delivered…
Source: Costar News
