Amen Family Trust of Del Mar, CA, purchased the 73-unit Villa Royale Apartment complex located at 1320 East Highland Ave. in Phoenix. The 67,160-square-foot property sold for $3.225 million, slightly more than $44,178 per unit, at a 9.25% cap rate. The 15-building complex, comprised of all two-bedroom/one-bath units, was approximately 92% occupied at the time of sale. The single-level property features private patios, a pool, and laundry facilities. Ric Holway of Marcus & Millichap represented both the buyer and the seller, Villa Royale LLC, in the sale transaction.