PHOENIX—In an off-market transaction, San Francisco-based Pacific Real Estate Partners, Inc., has purchased The Hawthorne Condominiums from Jeff Appleton of the Hawthorne Phoenix Condominiums, LLC, which is based in Winter Haven, FL. The purchase price was $19.11. The asset is a three story garden-style condominium community located at 3848 N. 3rd Avenue.
The Phoenix based ABI Multifamily brokerage team of Doug Lazovick, Rue Bax, John Kobierowski, Alon Shnitzer and Eddie Chang represented the buyer in this transaction. Joseph Dietz with ORION Investment Real Estate represented the seller.
The Hawthorne is a former apartment community located in Midtown Phoenix that was built in 1996 and condo converted in 2005. The bulk sale consisted of 182 condominium units, out of an originally built 276 total units. The $19.11 million purchase price for the 182 units reflects a per unit price of $105,000.
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