PHOENIX—The Phoenix office of Jones Lang LaSalle has completed the $18.1 million investment sale of Indigo, a formerly fractured Phoenix condominium asset that over 24 months was transformed into a 108-unit class A apartment community.
JLL executive vice president John Cunningham and JLL vice president Charles Steele represented the seller, Seattle-based Goodman Real Estate. The buyer was Belkorp Holdings, Inc.
Indigo is located at 16160 S. 50th Street, near I-10 and Chandler Boulevard in Phoenix's Ahwatukee submarket. Goodman purchased the property in 2013 as a fractured multifamily development, with 17 of its 30 Class A units previously sold as condominiums and with the infrastructure in place to build an additional 78 units.
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