Berkadia announced today the sale of ±9.868 acres of land situated at NWC Loop 101 & 7thAvenue in Phoenix, Arizona. Senior Managing Directors Mark Forrester and Ric Holway, Senior Director Dan Cheyne and Director Andrew Curtis of Berkadia Phoenix completed the $9 million sale of the Phoenix development site on behalf of the seller, North Res Holdings LP. The deal closed on September 29. The Buyer is Aileron Apartments, LLC.
The buyer plans to build a 287-unit luxury multifamily community on the site.