Multifamily exchange completed in Arizona

Diamond Pavilions LLC acquired the 248-unit Pavilions at Arrowhead apartments in Glendale, Ariz., via property exchange.

The value of the transaction was $20.8 million.

DWP LLC traded/sold the Arizona property, located at 7400 West Arrowhead Clubhouse Drive, for the 64-unit Camelot Mesa Townhome apartment property located at 10208 Maya Linda Road in San Diego, Calif., formerly owned by Diamond I LLC.

The Arizona apartment project was built in 1997 and features one-bedroom and two-bedroom units with full-size washer and dryers, covered carports, garages and drive-through car wash.

Colliers International represented the buyer in this transaction. Grubb & Ellis/BRE Commercial represented the seller.

Colliers International is a provider of commercial real estate services.

***

What's your opinion? Send your Letter to the Editor to opinion@inman.com.

All rights reserved. This content may not be used or reproduced in any manner whatsoever, in part or in whole, without written permission of Inman News. Use of this content without permission is a violation of federal copyright law.