Biltmore Vista Townhomes Sold for $5.5 Million
PHOENIX –TriTex Real Estate Advisors II, Inc. of Atlanta, Ga. has paid $5.5 million for the sale of Biltmore Vista Townhomes, located at 2323 E. Flower St. in Phoenix. The property was owned by LWH AZUL 24, dba Sheiner Group, of Westmount, Quebec, Canada.
The property, which was built in 1973, contains 114 units and was 93 percent occupied at the time of the sale. The sale price brought $48,246 per unit, which equates to $53.40 per square foot.
“The buyer plans to rebrand the property and take advantage of the unique architecture and large unit sizes,” said Brett Polachek of Cushman & Wakefield of Arizona, Inc.
Polachek and Jim Crews of Cushman & Wakefield represented the seller in the transaction.
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