PHOENIX—Berkadia Commercial Mortgage LLC announced today the sale of Esteban Park, located at 5611 S. 32nd St. in Phoenix. The multifamily asset sold for $20.7 million. The seller was Esteban Park Apartments LLC of Scottsdale; the buyer was Carlibach LP of Mill Valley, CA. The property was 98% occupied at the time of sale.

Senior partner Mark Forrester, partner Ric Holway and vice president Dan Cheyne of Berkadia's Phoenix office negotiated the transaction.

Built in 2008, the 204-unit property features one-, two- and three-bedroom floor plans. Each unit features fully equipped kitchens, granite countertops, custom cabinetry, washers and dryers, ceiling fans, hardwood flooring, air conditioning, spacious closets and balconies/patios. Community amenities include a swimming pool, Jacuzzi, spa, ramadas, clubhouse, fitness center, volleyball, billiards, carports and controlled-access gates. Select units have pantries, extra storage and mountain views.