PRESS RELEASEFOR IMMEDIATE RELEASE
Company Website: www.ABImultifamily.com
ABI Broker's Mid-Century Built Apartment Community in Midtown Phoenix
Phoenix, AZ – July 6, 2017 – ABI Multifamily, the Western US's leading multifamily brokerage and advisory services firm, is pleased to announce the $1,445,000 / $96,333 Per Unit sale of the 15 unit Roanoke Apartments. Located in the heart of Midtown Phoenix, Roanoke is a single-story garden style community which rests on 0.75 acres of land and was completed in 1955. Built of block construction, the property features (3) Studios, (10) 1 Bed and (2) 2 bedroom units with an average size of 617 square feet.
Patrick Burch, Vice President at ABI, representing the Seller in the transaction notes, "investor demand for properties in both the Midtown & Downtown submarkets is overwhelming. Given the dramatic increase in economic activity, both from a jobs and construction development standpoint, has made these areas the epicenter of sustained renter interest."
The Seller is a private multifamily investor based in Arizona.
The Buyer is a private multifamily investor based in California.
Phoenix based ABI Multifamily Vice President Patrick Burch and Vice President John Klocek represented the Seller in these transactions.
ABI Multifamily is a brokerage and advisory services firm that focuses exclusively on apartment investment transactions. With offices in Phoenix, Tucson and San Diego, the experienced advisors at ABI Multifamily have completed billions of dollars in sales and thousands of individual multifamily transactions. ABI Multifamily incorporates a global approach with regional real estate expertise to successfully complete any multifamily transaction, regardless of size and complexity.