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Western Wealth Capital Acquires 150-Unit Multifamily Complex in Tempe

Villatree Apts. Sells for $17.4 Million
February 26, 2018
Western Wealth Capital (WWC), a growth-focused real estate investment company, acquired the 150-unit Villatree apartment complex in Tempe, AZ from PEM Real Estate Group for $17.35 million, or approximately $116,000 per unit.

Villatree comprises one- and two-bedroom units ranging from 465 to 1,000 square feet in 11, two-story buildings. The 98 percent leased apartment complex at 1750 S. Price Rd. delivered in 1980 on more than eight acres.

Cliff David and Steven Gebing, senior managing directors at Marcus & Millichap, represented the seller, which purchased the garden-style apartment complex in December 2006, according to CoStar's data.

Please see CoStar COMPS #4134098 for more information on this transaction.
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