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The 842-unit Presidio at South Mountain apartment complex in Phoenix sold to Fairfield Residential for $80.5 million, or $95,606 per unit. Its previous owners, Dallas-based Invesco, originally purchased the property for just under $85.5 million in 2007. The complex is located 2 miles east of South Mountain Park, and sits on a total of 34 acres. Midland National Life Insurance funded the sale with a total of $58,750,000 in new debt.
For more information on this property including complete history, unit mix, and buyer/seller contacts, visit us at our website or send us an email. We're happy to hear from you!
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