Berkadia completes $15M Phoenix multifamily sale

Real Estate | 13 Mar |

Berkadia today announced the $15.25 million sale of Murano Apartment Homes, a garden-style multifamily property in Phoenix, Arizona. Senior Managing Directors Ric Holway and Mark Forrester and Senior Director Dan Cheyne of Berkadia’s Phoenix office completed the sale on behalf of the seller, Seattle-based Weidner Apartment Homes. The buyer was Tides Equities, based in Los Angeles, and the deal closed on February 22.

“Murano was a unique opportunity to acquire 187-units in the Arcadia neighborhood of Phoenix,” said Holway. “The property also offers the additional benefit of the ability to split the community back into two small boutique assets if desired.” 

Located at 4815 and 4915 E Thomas Road, Murano Apartment Homes offers one- and two-bedroom floorplans and has a central system for heating and cooling. Residents can enjoy amenities such as a pool, tennis court and barbeque area. Located within the prestigious Arcadia neighborhood, the property is east of 44th Street and two miles north of the Loop 202 freeway.

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