Mandarina Associates lands Arizona apartments

Seattle investor adds 180 units
Published on Mar 2, 2004

Hendricks & Partners negotiated the sale of Mandarina, a 180-unit apartment community in Phoenix, Ariz. The value of the transaction was $15.5 million. Mandarina is located at 5402 East Washington Ave. and situated immediately adjacent to Metro Phoenix's announced light rail line. Newport Beach, Calif.-based Phoenix Mandarina Apartments LLC sold the property to Seattle, Wash.-based Mandarina Associates LLC. Built in 2001/2002, Mandarina offers a full complement of class A amenities, including 38 garages, a business center, exercise facility, volume ceilings, conference room and controlled-access gates. Hendricks & Partners is an advisory company focused exclusively on the sales of multifamily properties. *** Send a Letter to the Editor for publication.Send a comment or news tip to our newsroom. Please include the headline of the story....

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