PHOENIX—Cushman & Wakefield of Arizona, Inc. completed the sale of Dwell Apartment Homes at 1923 N. 70th St.
The complex was constructed as two separate projects 1963 and 1975. They were later unified as one apartment complex. The recently renovated Dwell Apartment Homes development contains 193 modernized apartment units totaling 22,455 square feet. The property, which includes 32 buildings, is 93% occupied. The asset sold for $14 million.
Jim Crews, senior director with Cushman & Wakefield, tells GlobeSt.com, “The seller had owned this property for a while and monetized the asset. The buyer saw an opportunity for more value-add—but really, the sale was location oriented. That part of Scottsdale is really booming.”
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