Berkadia Arranges Phoenix Apartment Transaction
- Jan 27, 2017
Scottsdale, Ariz.—Berkadia has announced that the company arranged the sale of The Allison Condominiums, a multifamily property located in Scottsdale. Senior Managing Director Mark Forrester, Managing Director Ric Holway, Senior Director Dan Cheyne and Associate Tom Wolff of Berkadia’s Phoenix office led the transaction team representing both the seller, Optimus Real Estate Fund, and the buyer, Jamal Holdings. The community traded for $17.3 million.
Located at 14145 N. 92nd St., the property offers easy access to Raintree Drive and Pima Freeway and is close to points of interest including Scottsdale Quarter, WestWorld of Scottsdale and Desert Ridge Marketplace.
“This is an exceptional fractured condominium development in the highly-attractive North Scottsdale area. Jamal Holdings has been investing in multifamily properties for many years, and was attracted to this property for its dynamic location and strong upside potential,” Holway said.
The transaction included only 152 units out of the 332-unit community built in 1988. The property features one- and two-bedroom floor plans with full-size washers and dryers, patios, vaulted ceilings, walk-in closets and storage. Community amenities include a clubhouse, two pools, a spa, a barbeque area and billiards room.
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