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  October 26, 2018



Property Name
Address
City
No Units
SF
Sales Price
Price/SF
Unit SF Avg.
Sale Date
Year Built
Unit
Price
Unit Mix, % Down Payment, Lender; Previous Sale Date and Amount
Village 38
3244 N. 38th Street
Phoenix
13
10,620
$2,222,500
$209.28
817 SF
10/19/2018
1969

$170,962
All 2/1's; 35% Down; New Freddie Mac Loan; Last Sale: 09/2016 $1,180,000
The Glen
6240 N. 63rd Avenue
Glendale
136 of 200

$9,490,000

10/23/2018
1985

$73,566
Mix Unknown; 24% Down; Lender: Artemis Realty Capital; Another 24 Units purchased in separate transactions; Last Sale: 02/2015 $5,000,000 (129 Units)
Urban 188
1601 W. Camelback
Phoenix
188
94,482

$17,000,000
$179.93
503 SF
10/25/2018
1970

$90,426
109-0/1's, 78-1/1's, 1-2/2; M/M;  24% Down; New Freddie Mac Loan; Last Sale: 11/2015 $4,888,000

Well, well, well.
This is the fourth week of four or fewer closings.  Any concern out there?  Do you think Banks are pushing back a little or interest rates are moving up a tad or even D/C ratios?  I still think we're about ready for a big week.  Sellers are still in the drivers seat, for now.  We are watching this closely.  As we all know, not much product being marketed.



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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