New York-based Clarion Partners just sold a 497-unit Valley apartment community for $187.5 million, according to Tempe-based Vizzda LLC — nearly three times its $64.25 million purchase price in July 2004.
The deal represents the largest single asset multifamily sale in Arizona so far this year, according to Yardi Matrix data.
Metro Phoenix hasn’t seen this type of record sale since May 2022, when JBL Partners sold its 369-unit The Moderne for $260 million and its 356-unit Roadrunner on McDowell for $193.5 million.
Source: https://www.bizjournals.com/phoenix/news/2024/09/12/north-phoenix-apartments-set-record-price.html
