Avanti Residential has sold the 193-unit Dwell Apartment Homes for $41.6 million to Chicago-based 29th Street Capital. The sale is part of Avanti's strategy to reallocate its 9,000-unit apartment portfolio toward newer core-plus properties nationwide.
The mid-century project is located near the intersection of Scottsdale and McDowell roads and benefits from Scottsdale's high-end employment, retail, dining and entertainment offerings.
Steve Gebing and Cliff David with Institutional Property Advisors represented Avanti in the transaction, while the buyer represented itself.
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.
