SCOTTSDALE, AZ-Business Real Estate Weekly reports that Equity Residential Trust has unloaded another multifamily property. The Chicago-based seller sold the 328-unit Via Ventura apartments to Greystar Real Estate Partners LLC for $36.5 million.
According to BREW , the property at 8375 E. Via de Ventura Dr. was financed through a $27.1 million Fannie Mae loan, issued courtesy of Prudential Multifamily Mortgage LLC. The complex was built in the late 1970s.
The sale of Via Ventura means that EQR has sold 4,380 units across 17 multifamily properties in the region so far this year. BREW also reports that the REIT is exiting Phoenix to focus on acquisitions on the east and west coasts. Read more about the story here.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
