Multifamily exchange completed in Arizona

San Diego investor gains 7-year-old property

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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