Monday, December 28, 2015

The Alta Scottsdale Apartments Sells for ±$54 Million

Image shows property prior to completed construction

Passaco Companies of Irvine, California purchased the Alta Scottsdale Apartments last Tuesday from Wood Partners for just under $54 million. The sale was funded by a loan of nearly $33 million with Fannie Mae, originated through KeyBank.

Built in 2014, this 218-unit gated apartment complex features one, two, and three-bedroom floorplans in two four-story buildings. This property was previously purchased by Wood Partners as a two-story office building in 2013, prior to its demolition and Alta Scottsdale's construction.

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