$9M Buys Investor's Last Apartment Holding

PHOENIX-In a bid to refocus its investment strategy, a Massachusetts investment group has divested of its last apartment holding in the country with the $9-million sale of the 302-unit Woodbridge Apartments in Phoenix.

Brookwood Woodbridge Associates LLC of Beverly put the 6635 N. 19th Ave. property on the market in order to focus its investments on office and industrial properties, Todd Braun with CB Richard Ellis Inc.’s Phoenix office tells GlobeSt.com. Pedro Miqueo beat out several other bidders to take ownership of the master-metered complex in a deal that gave the Davis, CA buyer his second Phoenix holding. Miqueo also owns the 207-unit Links apartments in the west central submarket, which he purchased this summer for $10.3 million.