SCOTTSDALE, AZ-Business Real Estate Weekly of Arizona reports that Priderock Capital Partners LLC of West Palm Beach, FL has acquired the 348-unit Camellero Apartments and the 278-unit Indian Bend Apartments from Equity Residential Trust of Chicago. The buyer paid $61.5 million for its first regional buy.
Tyler Anderson, Sean Cunningham and Asher Gunter of CBRE in Phoenix brokered the transaction. Although the projects were developed separately and have two names, they have been operated as one community. Camellero Apartments is at 7979 E. Camelback Rd. Indian Bend Apartments is at 4343 N. 78th St.
For more information, read the article here.
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