By Business Real Estate Weekly
A venture formed by P.B. Bell Cos. in Scottsdale (Phil Bell, Chapin Bell, principals) plans to develop a 286-unit apartment community located near the northwest corner of 75th Avenue and the 101 Loop in Glendale.
A limited partnership formed by P.B. Bell paid $4.704 + million to buy the 13.48-acre site, which is part of the Aspera mixed-use development. The seller was CDG Joy I LLC, a company formed by Cardon Development Group in Phoenix (Don Cardon, CEO).
Maricopa County records show the buyer in the cash transaction was Aspera Apartments LLLP (P.B. Bell entity). Southwest Capital Ventures Inc. in Toronto, Ontario, Canada (Elliott Sud, et al., principals) is P.B. Bell’s partner in the joint venture. The buyer was represented by Steven Underwood of Phoenix Commercial Advisors.