Camden paid $11.5 million for the Presidio at McCormick Ranch, a 164-unit apartment complex in the McCormick Ranch master-planned community. The complex stands on nearly 15 acres in the 9600 block of North 96th Street.
Apartment projects in most parts of greater Phoenix have fared well over the past several years as the region's population has steadily grown. The 11-year-old Presidio complex was 96% occupied at the time of sale.
The local office of CB Richard Ellis represented Camden and the seller, a private investment group known as Presidio Joint Ventures.
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