Bella Verde Apts.

Comments: Neil Sherman and Danny Lee, Principals in the Phoenix office of Sperry Van Ness, negotiated the sale of Belle Verde Apartments at 3030 N. 35th Avenue in Phoenix. Bella Verde closed at a sales price of $4,400,000, or $24,309 per unit, on August 30, 2013. The 181-unit apartment complex is approximately 71,760 square feet and was built in 1978. Bella Verde is a garden style- rental community and is situated on approximately 4.0 acres. This multifamily asset is ideally located near Grand Avenue, I-17 and I-10 Freeways, providing convenient access to many other Phoenix metropolitan cities and amenities. “This sale of Bella Verde Apartments marks the third successful closing for us on this property since April of 2010,” says Neil Sherman. “The buyer was a perfect fit for this asset, having recently sold a similar smaller property in Central Phoenix.” Sherman and Lee represented the seller, Sans Souci Apartments, LLKP. The Buyer was represented by Pete TeKampe of Marcus and Millichap.

Date: Aug 30, 2013