Investcorp sells Phoenix apartments

Investcorp has sold the 264-unit Palm Valley Apartments in Goodyear, Ariz.

The value of the transaction was not disclosed.

Titan Real Estate Investment Group LLC of Greenville, S.C., acted in an asset management capacity through the completion of the sale.

Originally acquired by Investcorp in January 2003, The Palm Valley Apartments is a garden-style apartment complex, which was built in 1997 and 1998. The property consists of 235,832 square feet on 15.9 acres in the western suburbs of Phoenix.

At the time of sale, occupancy was 97 percent.

CB Richard Ellis of Arizona marketed the Palm Valley Apartments for sale.

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