Multifamily developer and owner Fairfield Residential sold Skyview Ranch in Gilbert, AZ, to Mid-America Apartments, a Tennessee-based REIT, for $17.5 million, or about $75,000 per unit.
The 232-unit, 211,811-square-foot apartment community at 4632 E. Germann Road was built in 2006 in the Williams Gateway/Loop 202 submarket.
Bob Bruno and Mark Forrester of Hendricks & Partners represented the seller. The buyer was self-represented.
Please see CoStar COMPS #1722732 for more information.