PHOENIX—In this edition of Deal-Tracker, ORION Investment Real Estate closed the sale of Williams Landing Apartments, a 72-unit apartment complex in Gilbert, for $4.15 million. Jackie Allen, vice president of Multifamily Investments at ORION marketed the property and negotiated the transaction.

The property was built in 1982 using frame & stucco construction, with pitched tile roofs. The unit mix is comprised of one and two bedroom apartments housed in 6- two story buildings. Community amenities include a stand-alone leasing office, swimming pool and laundry facilities.

The multifamily asset is located in the desirable Gilbert submarket. It is strategically located in the center of the Power Road corridor, determined by planners to be a road of regional significance. Williams Landing is the only apartment complex between 50-100 units within this submarket.