Vizzda – June 13, 2013 – The Scottsdale
Meadows Apartments sold yesterday for $20.63m or $122,797 per door with $5.158m
down and $15,472,000 new agency debt originated by Walker and Dunlop Real
Estate Finance of Bathesda, MD, and assigned to Freddie Mac (FHLMC). The seller
was Equity Residential, represented by vice president Dede Berdelle, and the
buyer was Aukum Management, represented by president Jason Fuchs.
The Scottsdale Meadows Apartments is a 168
unit two-story apartment complex of eleven buildings totaling 149,520 ft2, built in 1984 on 7.81
acres. It is located to the northwest of the intersection of Scottsdale Road
and Shea Boulevard at 10888 N 70th Street in Scottsdale.
Equity Residential had acquired the
Scottsdale Meadows pursuant to their $1.06 billion acquisition of
Evans-Withycombe in 1997; Evans-Withycombe had owned the apartments since at
least June 21, 1993. The most recent debt on the property was a $9.27m Fannie
Mae (FNMA) loan dating to July 7, 2011, which was released with sale.
Edward Moore
Director of Research
Director of Research
emoore@vizzda.com
www.vizzda.com
www.vizzda.com
There are several attractive apartments in Scottsdale that can meet our varied requirements. The are worth the second look.
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