 |
| Tuscany Pointe Apartments, Phoenix, AZ |
PHOENIX, AZ, May 15, 2014 – Marcus & Millichap (NYSE:
MMI), a leading commercial real estate investment services firm with offices
throughout the United States and Canada, today announced the sale of Tuscany
Pointe Apartments, a 236-unit multifamily community in Phoenix, Ariz. The
$10,100,000 sales price equates to $42,797 per unit.
 |
| Cliff David |
Cliff
David, a Marcus & Millichap vice president investments, and Steve
Gebing, a senior director with Institutional Property Advisors, a Marcus
& Millichap company, both located in the firm’s Phoenix office, represented
the seller, Howe Group LLC. David and Gebing also advised the buyer, The Lodge
Complex Tulsa LLC.
“Built in
1981 in an established north Phoenix neighborhood, Tuscany Pointe is well
positioned for revenue enhancement through strategic interior and exterior
renovations,” says David.
The
property is located on 8.3 acres at 14830 North Black Canyon Highway in Phoenix
between the North Interstate 17/Deer Valley employment corridor, an area
encompassing 17.5 million square feet of retail, office, industrial and flex
space and the Metrocenter Mall, a 107-acre shopping center composed of
approximately 1.7 million square feet of retail space.
 |
| Steve Gebbing |
Developed
by Lincoln Property Co., each Tuscany Pointe apartment features a fully
equipped kitchen with a large pantry space, an oversized bathroom vanity and
pre-wiring for cable television.
Walk-in closets, ceiling fans, built-in microwaves,
balconies/patios and upgraded wood-style vinyl flooring are available in select
units.
Community amenities include two swimming pools, a fitness center with
cardio- and weight-training equipment, a sport court, barbecue grilling
stations, a shaded playground, two laundry facilities and lighted, covered
parking.
For a complete copy of the company’s news release, please
contact:
Gina Relva
Public Relations Manager
(925) 953-1716
No comments:
Post a Comment