PHOENIX—ABI Multifamily has brokered the bulk condominium sale of Scottsdale Haciendas, a condo conversion community that is located in Scottsdale. The purchase consisted of 79 garden-style condominium and townhome units (out of an original 180 units total on the property) and transferred HOA control to the buyer. Scottsdale Haciendas sold for $9.25 million, which reflects a price just over $117,000 per unit. The sale is the second condominium transaction brokered by ABI Multifamily in the past week, with the two sales combining for nearly $16 million in transaction volume.

The Phoenix-based ABI Multifamily brokerage team of Doug Lazovick, Eddie Chang, John Kobierowski, Alon Shnitzer and Rue Bax represented both the seller and buyer in this transaction.

Chang tells GlobeSt.com, “The buyer obtained 75% loan to value financing through a Canadian lender. There are so few transactions like this. A year ago we would not have been able to attain financing like this. But the condo market has improved, and of course it's dependent upon the fundamentals of each particular property. There are a lot of moving parts to get financing.”