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Aventura Adventure

Aventura Sells For $30.5 Million
By Grant Alexander
September 17, 2002 | 9:12 P.M.

Aventura Apartments LLC purchased the Aventura Apartments located at 10350 West McDowell Road in Avondale, AZ. The 408-unit, 368,436-square-foot multifamily property sold for $30.5 million, nearly $74,755 per unit, at an 8.36% cap rate. The complex offers 228 one-bedroom/one-bath, 36 two-bedroom/one-bath, 132 two-bedroom/two-bath, and 12 three-bedroom/two-bath units. The 16 building property also features two pools, gym, clubhouse, and spa. Rob Bruno and Mark Forrester of Hendricks & Partners represented both the buyer and the seller, Fairfield Avondale LP, in the transaction.

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