Senior Apartment Team
Linda Fritz-Salazar
Associate Broker


Call 602 759 1204


Email
Scott Trevey, CCIM
Senior Associate


Call 480 205 0862


Email
Weekly Apartment Closing Update through  July 20, 2 018



Property Name
Address
City
No Units
SF
Sales Price
Price/SF
Unit SF Ave.
Sale Date
Year Built
Unit
Price
Unit Mix, % Down Payment, Lender; Previous Sale Date and Amount
Palm at Glendale
6112 N. 67th Avenue
Glendale
160
133,316
$13,200,000
$99.01
833 SF
7/16/2018
1973

$82,500
80-1/1's, 80-2/1's; 33% Down; New Freddie Mac Loan; Last Sale: 03/1993
Camelot
1022 E. Narramore Ave
Buckeye
80
60,196
$6,250,000
$103.83
752 SF
7/16/2018
1983

$78,125
40-1/1's, 40-2/2's; Condo-Mapped; 30% Down; New Loan: Wells Fargo; Last Sale: 12/1999 $2,500,000
Palo Verde
6565 N. 17th Avenue
Phoenix
16
14,208
$1,520,000
$106.98
888 SF
7/18/2018
1973

$95,000
All 2/1's; 34% Down; New Loan: Banner Bank; Last Sale: 03/2004 $730,000
Metropointe
7017 S. Priest Drive
Tempe
408
383,777
$76,000,000
$198.03
941 SF
7/19/2018
2007

$186,275
228-1/1's, 144-2/2's, 36-3's; 23% Down; New Loan: Deutsche Bank; Last Sale: 03/2012 $44,250,000
Velaire at Aspera
7700 W. Aspera Blvd.
Glendale
286
272,712
$64,350,000
$229.53
980 SF
7/19/2018
2016

$225,000
120-1/1's, 134-2/1.75, 32-3/1.75; Cash Sale; No Prior Sale
Venture on Wilson
626 S. Wilson
Tempe
12
6,978
$1,200,000
$171.97
582 SF
7/20/2018
1960

$100,000
10-1/1's, 2-2/1's; 17% Down; New Loan: Venture INCA LLC; Last Sale: 07/2014 $720,000
Lexington
45 E. Lexington Ave.
Phoenix
23
13,275
$2,200,000
$165.73
577 SF
7/20/2018
1963

$95,652
15-0/1's, 8-1/1's; 24% Down; New Loan: FirstBank; Last Sale: 04/2015 $1,875,000

Multifamily Investment in Phoenix has never been hotter.
(Costar article posted on July 22,2018

Any questions???  Call Me.



Data Source: CoStar, BREW, Vizzda plus personal information

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About Us 
The Kasten Long Commercial Group has specialized in apartment brokerage in metro Phoenix since 1998. Our agents have brokered more than 1,000 communities with gross sales in excess of 1 billion dollars.

Kasten Long Commercial Group

5110 N 40th Street, Suite 110 Phoenix, AZ 85018
Designated Broker - Jim Kasten, CCIM
602 445 4113 office - 602 677 0655 cell
Jim@KLCommGroup.com

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