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SCOTTSDALE, AZ-Ending a 10-year hold, a San Diego investor has parted with the 321-unit Regents at Scottsdale. The class A complex, fetching multiple offers, has sold for $52.96 million to an Idaho-based buyer.

Built in two phases during 1997 and 1998, Regents at Scottsdale at 15555 N. Frank Lloyd Wright Blvd. had a quick marketing period, but a long escrow. According to Mark Forrester, partner with the Phoenix office of Hendricks & Partners, there was nothing behind the longer escrow other than the seller wanting to ensure that all loose ends would be tied up before closing.

"This wasn't an overnight transaction, but it worked out fine," says Forrester, who with Dean Zander of the Los Angeles office of Hendricks & Partners represented the seller. Forrester tells GlobeSt.com the appeal for Brio Investments in Ketchum, was the attractive price, credible track record and willingness to close after the first of the year.