Mandarina Associates lands Arizona apartments
Seattle investor adds 180 units
By Inman News, Tuesday, March 2, 2004.Inman News®
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.
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