An investment group led by Wasatch Property Management has purchased the Painted Trails Apartments in Gilbert, AZ for $15.68 million, or $80,000 per unit. Located at 4255 E. Pecos Road, the 10-building complex consists of 72 one-bedroom/one-bath units, 60 two-bedroom/one-bath units, 56 two-bedroom/two-bath units and eight three-bedroom/two bath units. Construction for the project was completed in 2008. Alon Shnitzer at Marcus & Millichap was the transacting broker. Fairfield Properties LP was the selling entity. For additional information, please see CoStar COMPS #1830842.