Pacific Real Estate Partners buys Phoenix Apartments for $9.3M

Cushman & Wakefield announced the $9.3 million sale of Summerhill Apartments, a 130-unit apartment community located at 2925 N. Greenfield Road in Phoenix, to Phoenix-based Pacific Real Estate Partners.

Brett Polachek and Jim Crews from the Cushman & Wakefield Phoenix office represented the seller, Summer Hill URMTA LLC of Mesa, Ariz.

Summerhill Apartments is a three-story, eight-building community totaling 97,040 square feet and includes two swimming pools, two laundry facilities, covered parking, a sundeck and is adjacent to the Grand Canal fitness trail. Built in 1970, the garden-style community offers one- and two-bedroom floor plans with an average unit size of 746 square feet. Each unit features gourmet kitchens with stainless steel appliances, update cabinetry, granite countertops, ceramic tile flooring and walk-in closets.

Centrally located in Phoenix, Summerhill Apartments is situated in a desirable neighborhood at the crossroads between the Biltmore, Arcadia, Midtown and Downtown neighborhoods of Metro Phoenix. The property is conveniently located near the convergence of SR-51, Loop 202 and Interstate 10.

POSTED: . TAGS: ,

About AZRE

Pulling together the multiple facets of the commercial real estate industry in Arizona, AZRE: Arizona Commercial Real Estate Magazine reaches out to the largest local and national commercial real estate audience within the Grand Canyon State and beyond. AZRE covers up-to-date happenings within commercial development, brokerage, construction, investment, finance, architecture, property management, real estate law and more as it relates to Arizona. Additionally, AZRE is an active voice within the commercial industry, partnering with such organizations as NAIOP, ABA, ICSC AZ, AIA AZ and Valley Partnership.

What are your thoughts on this? Give us your comment.

Your email address will not be published. Required fields are marked *


Anti-spam: complete the taskWordPress CAPTCHA