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169-Unit Complex Draws About $8.3 Mil

PHOENIX-Arcadia Villa Apartments LLC has realized more than $8.3 million for a 169-unit complex in the Camelback Corridor. A Minnesota investment firm's price bests in excess of $49,000 per unit.

By D.J. Burrough | Updated on September 06, 2001

PHOENIX-A Minnesota investment firm has purchased a 169-unit apartment complex along Camelback Road. The acquisition price is a little more than $8.3 million.

Phoenix Arcadia Villa Apartments LLC of Eden Prairie has paid just over $49,000 per unit for the Arcadia Villa Apartments. The complex is located at the southwest corner of 40th Street and Camelback Road. It is positioned in the Camelback Corridor, which is one of the most upscale locations in the Valley for office, retail and restaurants. Nearby amenities include the Biltmore Fashion Park, Camelback Esplanade and Camelback Mountain.

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