Farmer Avenue Lofts Sold for $6.6M
Developer Acquires 18-Unit Tempe Multifamily
June 15, 2012
Avatar Development Group LLC sold the 18-unit condominium complex at 352-398 S. Farmer Ave. to Synergy Farmer Avenue LP for $6.6 million, or approximately $367,000 per unit.
Built in 2008, the 42,982 square foot Farmer Avenue Lofts is situated on a 1.8-acre parcel. It was reported that the property was 100 percent occupied at time of sale.
Michael Douville and Robert Neil in the Scottsdale office of Realty Executives represented both the buyer and the seller in the sale.
For more information on this transaction, please refer to CoStar COMPS #2485115.