Monday, December 21, 2015

Passco Companies Acquires $52 Million Luxury Apartment Community in thriving Scottsdale, AZ Market

Luxe Scottsdale Apartments,  8444 East Indian School Road, Downtown Scottsdale, AZ

Gary Goodman
 SCOTTSDALE, AZ – Passco Companies, LLC has acquired a premier core 218-unit multifamily community for $52.525 million in Scottsdale, Arizona, which it is naming “Luxe Scottsdale.”

 The community, built with an urban design, condominium finishes, and state-of-the art community amenities, was recently developed by the seller, Atlanta-based Wood Partners, according to Gary Goodman, Senior Vice President, Acquisitions for Passco Companies. 

“Luxe Scottsdale’s location at 8444 E. Indian School Road in the coveted Downtown Scottsdale submarket, provides a long-term competitive advantage, high barriers to entry for future multifamily product, and immediate access to Downtown Scottsdale’s upscale retail, vibrant restaurants, nightlife and an expanding hub of dynamic employment,” explains Goodman.

Wood Partners developed the asset as its first of four developments in Arizona. 

For a complete copy of the company’s news release, please contact:    

Jenn Quader
Managing Director
Brower, Miller & Cole
895 Dove Street, Third Floor
Newport Beach, CA 92660
p: (949) 955-7940 / c: (949) 554-3932

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