ARIZONA REAL ESTATE & HOUSING NEWS
Downtown Phoenix apartment complex sells for $77 million
Phoenix's Camden Copper Square Apartments was acquired by ColRich, a real estate and investment firm, according to a Nov. 20 announcement.
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A 332-unit apartment complex in downtown Phoenix has sold for $77 million.
Camden Copper Square Apartments was acquired by ColRich, a San Diego-based real estate and investment firm, according to a Nov. 20 announcement.
The seller, commercial real estate service and investment group Camden Property Trust was represented by CBRE.
The multifamily gated complex is at 901 E. Van Buren St. It has two parking structures, two swimming pools, barbecue grills and seating, an outdoor lounge, indoor coworking spaces, a 24-hour fitness center and a dog park.
This story is posted in partnership with Phoenix Business Journal. Click to read the full story.
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Comments
1 Comments
That math is suspect. They'll need 9-10 years just to break even, and by then the building will be shot, if it isn't already. There are too many zeroes in that number unless someone is laundering money.