Grubb & Ellis/BRE Commercial brokered the sale of the Monte Verde Apartments, a 435-unit apartment complex in Phoenix, Ariz.

The value of the transaction was $47 million.

Verde Property Holdings LLC purchased the property, located at 3601 E. McDowell Road, from Indigo Palms LLC.

Grubb & Ellis/BRE Commercial LLC is an independently owned and operated full-service commercial real estate firm serving metropolitan Phoenix and secondary Arizona cities.

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