Friday, June 27, 2008

Marcus & Millichap Sells 203-Unit Apartment Community in Phoenix for $10.3M

PHOENIX, AZ– Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has arranged the sale of Brookside, (top right photo) a 203-unit multi-family community in Phoenix.

The sales price of $10.3 million represents $50,739 per unit and approximately $74.96 per square foot.

Alon Shnitzer, an associate vice president investments and director of Marcus & Millichap’s National Multi Housing Group in Phoenix, represented the seller, Brookside-Premier LLC.

Richard Butler, a vice president investments and also a director of the firm’s NMHG in Phoenix, represented the buyer, Brookside Properties LLC.

“Brookside was an excellent opportunity for the buyer to acquire a well-maintained multi-family community in a strong in-fill location near several transportation corridors, schools and retail centers,” says Shnitzer.

Located at 6131 West Thomas Road, the approximately 137,400-square foot multi-family community is situated on a 6.87-acre lot, within minutes of the Interstate 17 Black Canyon Highway, the Loop 101 Agua Fria Freeway, the Interstate 10 Papago Freeway and the State Highway 60 Grand Avenue Freeway.

Brookside is also within two miles of The Desert Sky Mall (photo at right) and Cricket Pavilion Amphitheater.

Brookside features a mix of studio, one- and two-bedroom units. Interior amenities include an alarm system, walk-in closets, balconies or patios and ceiling fans. Community amenities include two sparkling swimming pools, each with a relaxing spa, children’s playground, reserved covered parking and two laundry facilities.

Press Contact: Stacey Corso
Communications Department
(925) 953-1716

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