$5M+ Deals – $8.8M for apartments in Phoenix and $7.35M for vacant county land

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Below are deals that closed Friday, March 20, 2015, in Maricopa County over $5 million according to the Maricopa County Recorder. The Rose Law Group Reporter has not independently verified these transactions.

8.8 million ($42,308/unit) sale of the 208-unit Adagio Apartment Homes near W. Greenway Road and N. 35th Avenue (15615 N. 35th Avenue) in Phoenix, by Rancho Encanto Apartment Partners LLC an entity of Scottsdale-based Verde Valley Land Development LLC (Allen W. Sands, Manager).

The buyer was West 35 Phoenix LP, an entity of Univest Inc., an apartment building investment company based in Newport Beach, Calif.

The buyer put $2.6 million down on a conventional loan for the 4.5 acre property.

The 92,533 square-foot Adagio Apartments were built in 1996 and offers 24-hour maintenance, business center with WiFi, spa and swimming pool, movie video library and TV lounge, according to their website.

To view the affidavit, click here.

 

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$7.35 million sale of seven parcels of vacant land near Queen Creek and Rittenhouse roads in Maricopa County, by Tres Points LLC an entity of Georgetown Holdings LLC (Conley Wolfswinkel, manager), in Tempe.

The buyer was PBS Germann LLC.

To view the affidavit, click here.

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