CBRE completes $32.5M sale of San Paulo Apartments

CBRE has completed the sale of San Paulo, a 208-unit Class A multifamily community located at 14625 South Mountain Parkway in Phoenix. The property commanded a sale price of $32.5 million.

Sean Cunningham, Tyler Anderson, Asher Gunter and Matt Pesch with CBRE’s Phoenix office represented the seller, Seattle-based PrivatePortfolio Group. The buyer was New York City-based Rivendell Global Real Estate.

“Located in the preferred Ahwatukee submarket, San Paulo presents a tremendous investment opportunity,” said CBRE’s Cunningham. “The community is surrounded by numerous established master-planned communities with strong demographics, access to top-rated schools and proximity to some of the East Valley’s largest employers.” 

Built in 1996, San Paulo is a garden-style community with spacious one-, two-, and three-bedroom floor plans equipped with 9-foot ceilings and full-size washers/dryers. Community features include a swimming pool, 24-hour fitness center and resident clubhouse. San Paulo is situated within the upscale Mountain Park Ranch master-planned community, which provides residents access to several Mountain Park Ranch HOA amenities including tennis courts, swimming pools and parks.

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