A California-based private investor has acquired a The Retro, a 62-unit apartment building in East Phoenix. The property traded hands for $5.35 million.

The complex was built in 1968 and renovated in 2015. It features a mix of 31 studio, 29 one-bed/one bath and two two-bed/one-bath units.

ABI Multifamily's private apartment team of associates Dallin Hammond and Mitchell Drake and VP Ryan Smith represented the Buyer.

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Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.

Phoenix
Multifamily
Capital Markets