PHOENIX—CBRE has completed the sale of the Sonoran Vista apartment community, a 264-unit apartment complex located at 9340 E. Redfield Rd. in Scottsdale. The multifamily asset, which is situated in the heart of the North Scottsdale submarket was 95 percent leased at time of sale. Public records indicate the sale price was $43 million.

Tyler Anderson, Sean Cunningham, Asher Gunter and Matt Pesch with CBRE's Phoenix office represented the seller, a joint venture of Security Properties of Seattle and an institutional fund managed by Hunt Investment Management, the SEC-registered advisor of the Hunt Companies, based in Chicago. The buyer was San Francisco-based Aukum Management.

“Sonoran Vista is an extremely well-located asset that offers an excellent value-add opportunity and will continue to benefit from its location in one of the strongest employment corridors in the Valley,” says Cunningham.