By Business Real Estate Weekly
A company formed by New York Life Investors in San Francisco, Calif. paid $32.75 million ($126,938 per unit) to purchase the 258-unit Desert Mirage apartments at 1333 W. Guadalupe Road in Gilbert.
The seller was HSL Desert Mirage Apartments LLC, a company formed by HSL Properties Inc. in Tucson (Humberto Lopez, principal).
Maricopa County records show Madison-MF Desert Mirage AZ LLC (entity formed by New York Life Investors) acquired the property in a cash sale. The deal was brokered through Brad Goff and Dave Lord of Apartment Realty Advisors in Phoenix.
In August 2009, BREW reported HSL Properties paying $17.9 million ($69,380 per unit) to buy Desert Mirage. The complex was built in 1998.