Investor pays $12 million for Arizona apartments

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Hendricks & Partners negotiated the sale of Paradise Club, a 288-unit apartment community in Phoenix, Ariz. The value of the transaction was $12.1 million. The property is located at 2825 East Marconi Ave. Mountainside, N.J.-based Paradise Club LLC sold the property to Dallas, Texas-based Paradise Urban Investments LLC. Hendricks & Partners is a national advisory firm focused exclusively on the sale of multifamily properties. *** What's your opinion? Send your Letter to the Editor to newsroom@inman.com....