Thursday, September 3, 2015

Siena Apartments Sell for Over $31 Million

Images Property of Vizzda LLC

Scottsdale investors PB Bell Companies purchased the 352-unit Siena Apartments located west of the northwest corner of 48th Street and Baseline Road for $31.025 million, or $38,785 per unit. The sale was financed by a $27.525 million note with NXT Capital. Sellers Mabry Management had acquired the apartments for $13 million three years prior.

The Siena Apartments consist of 22 two-story buildings with one, two, and three-bedroom floorplans built in 1986 and remodeled in 2001. Amenities include three pools, clubhouse, and on-site laundry facility. It is located just a mile east of the Arizona Mills Mall.

For more information on this property including complete unit mix, history 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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