By Angela Gonzales | Phoenix Business Journal
Investors are cashing in on a hot market as multifamily property sales over $100 million continue to close in metro Phoenix — even for apartment communities built in the 1980s.
The biggest deal to close recently was the $166 million sale of La Privada at Scottsdale Ranch.
An entity tracing to Kennedy Wilson bought the 350-unit property from an entity tracing to DiNapoli Capital Partners, according to Tempe-based Vizzda LLC real estate database.
Built in 1985, that property at 10255 E. Via Linda in Scottsdale, sold for $474,285.71 per unit, according to Vizzda.
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