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Tamarack Shadows Fetches $1.3 Mil

PHOENIX-The 45-unit Tamarack Shadows Apartments has changed hands, with the new owner being a local real estate investment firm. Seller Los Angeles-based Milo Webber snags $1.3 million for the 22-year-old complex.

By D.J. Burrough | Updated on May 17, 2001

PHOENIX-A local real estate investment firm has put up $1.3 million for a 45-unit apartment complex in east Phoenix. A Phoenix-based firm, headed by Cristian and Magdalena Covaciu, are the new owners of the Tamarack Shadows Apartments, situated at 3101 N. 36th St. The sale price equates to $28,888 per unit.

Los Angeles-based Milo Webber is the seller of the 22-year-old complex, located on a two-acre parcel. The property had been 90% leased at sale time. The apartments are just north of Thomas Road near the Desert Palms Power Center in Phoenix, about 2.5 miles from the Squaw Peak Parkway.

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