PHOENIX—In this edition of Deal-Tracker, Cushman & Wakefield of Arizona, Inc. completes the $2.8 million sale of the Charter Palms Apartments, 1220 N. 44th St. Plaza de Vista, LLC of Tempe purchased the property from Realty Partners Charter, LLC of Phoenix.
The complex was constructed in 1974 and contains 74 apartment units totaling 60,400 square feet. The property, which includes five buildings, is 69% occupied.
“The property has quite a bit of deferred maintenance that the buyer plans to take care of while also improving the quality of the asset,” says Brett Polachek, senior director with Cushman & Wakefield.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
