Thomas Pride International and Ecohaus Real Estate, a development and redevelopment company that focuses on the creation and renovation of urban infill sustainable communities, purchased a 93-unit multifamily complex in Phoenix from Neilstate Investment Properties. Phoenician Villa Apts. sold for $5.5 million, or approximately $60,000 per unit.
The garden-style complex at 1545 W. Camelback Rd. comprises studio and one-bedroom units ranging from 375 to 493 square feet in two, two-story buildings. The property spans nearly two acres near the Valley Metro light rail station, less than 10 miles from Phoenix Sky Harbor International Airport.
“The Phoenix Camelback corridor will be significantly enhanced and improved by another distinguishing Thomas Pride International and Ecohaus Real Estate community,” said Karl Abert, senior vice president of Kidder Mathews, in a statement.
Abert represented the buyers in the transaction. The seller originally purchased the property in December 2017 for $4.5 million, or about $49,000 per unit, CoStar data shows.
The 93-unit Phoenician Villa Apts. at 1545 W. Camelback Rd. in Phoenix
For additional information regarding this transaction, please refer to CoStar COMP #4370088.
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