24 Jul Radius Apartments Sells for $4.45M in Phoenix
This post originally appeared on tBL Member SVN | Desert Commercial Advisor’s News Blog and is republished with permission. Find out how to syndicate your content with theBrokerList.
Phoenix, Arizona – July 10, 2019 – Surrounded by several apartment complexes in the area, Radius Apartments exchanges ownership to S Realty Inc. in Phoenix. SVN Desert Commercial Advisors represented the buyer in the sale transaction.
The SVN multifamily team, led by Carrick Sears and co-brokers Vicente Cantua and Kevin Weller worked with long-time SVN client to identify another sale acquisition in the valley. The buyer, Larry Spitz is from New York but has worked with Sears in the past. “We were happy to close on the purchase of our second apartment building in Phoenix,” said Spitz. The property is located at 2602 W. Glenrosa Ave. The master metered property had a great price per unit of just $61,000.
Carrick Sears stated, “This was one of the last few remaining good deals out there so I am happy to have been able to source this opportunity for my client.” Spitz continued, “Carrick was very instrumental in our purchase of another property that fit our criteria and the SVN team has been truly great to work with.” The seller, Silktree Investments, LLC and Silk Tree I, LLC out of Fullerton California was represented by Scott Trevey with Kasten Long. The 37,000 square foot property, 72-units will be in good hands with the new owners. “Coming from New York, we love the landlord friendly state of Arizona,” said Spitz.
SVN Desert Commercial Advisors is a full service brokerage and Carrick Sears has been a noteworthy broker in the multifamily division with other active listings at SVN. “This will be a nice investment for my client,” said Sears.
SVN | Desert Commercial Advisors is a full-service commercial real estate services firm providing comprehensive expertise in investment brokerage, leasing, landlord/tenant representation, analysis/valuation and market research. We specialize in multifamily, retail, office, medical/dental, and restaurant property types. Visit our website at www.SVNDesertCommercial.com for more information.
RSS Feed provided by theBrokerList Blog – theBrokerList for commercial real estate brokers (cre) and Radius Apartments Sells for $4.45M in Phoenix was written by SVN Desert Commercial Advisors.