|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.