Arizona apartment deal tops $13M

Out-of-state buyer makes purchase

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Summerhill Place, an apartment community in Glendale, Ariz., has sold for approximately $13.2 million. Brooklyn, N.Y.-based Rebecca Realty sold the property to Encinitas, Calif.-based Southwest Equity Partners. Located at 6801 West Ocotillo Road, the 232-unit, garden-style apartment complex is located minutes away from the newly constructed stadium for the Arizona Cardinals and the Glendale Arena. The buyer plans to make "significant interior upgrades to the asset," according to a press statement....