By Catherine Reagor | Arizona Republic
Apartments are a hot commodity in metro Phoenix, and not just with renters.
Investors are snatching up Valley apartment complexes almost daily for hefty prices.
Last week, one of world’s largest real estate investors, New York-based Blackstone Group, went on an apartment-buying spree in metro Phoenix, purchasing six apartment complexes for almost $311 million.
Earlier this year, it bought five other Valley apartment complexes.