6
Dec
Phoenix-Area Apt. Complex Valued at $115 Million Hits the Block
A 10-year-old Phoenix-area apartment complex hitting the sales block comes with an attractive tax break and some potential upside for the next owner.
Ten01 on the Lake in Tempe, AZ is a 523-unit, garden-style complex that is approximately 95% occupied. Local pros think bids will come in at about $220,000 per unit, or about $115 million. That price would translate into a capitalization rate of about 5.5%.
Picerne Real Estate Group of Warwick…
Source: Costar News
