Peoria/Glendale – A company formed by Goldman Sachs Group Inc. in New York City, N.Y. (NYSE:GS) paid $64.95 million (average of $90,208 per unit) to buy 720 apartment units in three Valley properties. The sellers in three separate transactions were companies formed by Camden Property Trust in Houston, Tex. (NYSE:CPT). The deal was negotiated through Tyler Anderson, Sean Cunningham, Asher Gunter and Matt Pesch of CBRE in Phoenix. Goldman Sachs is a Wall Street-based global investment banking, securities and investment management firm with $183 billion in assets. Including the Camden portfolio deal, Goldman Sachs now has an interest in 9 Valley apartment projects accounting for 2,295 units. Records show ERGS III Arrowhead Owner LLC (Goldman Sachs company) acquired the three apartment communities from Camden with $48.249 million in financing provided by J.P. Morgan Chase Bank. Continue reading
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