A commercial real estate investment services firm, Marcus & Millichap (NYSE: MMI), arranged the sale of Sora on Rose, a 92-unit Phoenix apartment, for $7,850,000.
Recently, 24 of the apartments had been remodeled with new cabinets and counter tops along with wood-style vinyl flooring. The apartment complex has covered parking, a swimming pool, and a renovated leasing office and clubhouse where residents can hang out.
There is also a gym fitted with cardio and weight training equipment.
Sora on Rose is located near 16th Street and Maryland Avenue at 6201 North 16th St. Apartment units have spacious floor plans, a kitchen with a refrigerator and dishwasher, and the units have walk-in closets.
“Sora on Rose epitomizes contemporary apartment living in a burgeoning Uptown Phoenix location,” said Cliff David, Marcus & Millichap vice president of investments. “(Sora on Rose) is conveniently located near high-end shopping and dining at the Biltmore Fashion Park and Camelback Corridor, Phoenix’s most well-known and desirable high-end office destination.”
A Phoenix-based brokerage team made up of David, Gebing and Trevor Hardy, a Marcus & Millichap associate, represented the seller, Gelt Rose Holdings, LLC. Jonathan Bench, a Marcus & Millichap associate in Seattle, represented the buyer, Shoup Rose, LLC. Don Morrow, regional manager, was the firm’s broker of record for the transaction.
