Chandler, Phoenix apartment properties sold for $75.45M

Screen Shot 2014-07-18 at 8.18.01 AMThe Arizona Republic

Entities of Commingled Pension Trust Fund (Strategic Property) JP Morgan Chase Bank in New York sold Pinnacle Terrace in Chandler and Pinnacle at Union Hills in Phoenix to TA Associates for $75.45 million. Pinnacle Terrace, a 300-unit apartment complex on nearly 19 acres at 801 N. Federal St. in Chandler, sold for $39.2 million. Pinnacle at Union Hills, a 264-unit apartment community at 4750 E. Union Hills Drive in Phoenix, sold for $36.25 million. Steve Gebing and Cliff David of Marcus & Millichap in Phoenix represented the seller. The buyer of these luxury apartment communities was self-represented.

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