Equity Residential sold the 480-unit Monte Viejo Apartments Friday for $58.55 million, or $122,000 per unit. Salt Lake City-based buyer Bridge Investment Group funded the sale with a Freddie Mac loan of nearly $44 million.
The Monte Viejo Apartments stand just southwest of the 101 freeway and Cave Creek Road. A shopping center with Costco anchor is located just across the street, with the Coyote Basin Park further down Beardsley Road.
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