Wednesday, May 11, 2016

Simpson Housing Purchases The Residences at Camelback for nearly $94 Million

Note: image taken prior to completion of improvements

The Residences at Camelback sold to Denver-based Simpson Housing yesterday for $93,912,000, or $301,000 per unit. JLB Partners sold the property just over one year after opening. A new loan of $52 million with Wells Fargo Bank financed the sale.

This 312-unit apartment complex consists of nearly 357,000 square feet of space with floorplans of one, two, and three bedrooms. It stands near the southwest corner of 44th Street and Camelback Road. A parking structure, health club, and one pool are included on the property.

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