Phoenix apartments sell for record price

By Angela Gonzales | Phoenix Business Journal

New York-based Clarion Partners just sold a 497-unit Valley apartment community for $187.5 million, according to Tempe-based Vizzda LLC — nearly three times its $64.25 million purchase price in July 2004.

The deal represents the largest single asset multifamily sale in Arizona so far this year, according to Yardi Matrix data.

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