Fractured Condo Experts, ABI Multifamily Brokers Sale of 78 Units in North Phoenix

PHOENIX - July 5, 2016 - PRLog -- ABI Multifamily, a dedicated multifamily brokerage and advisory services firm, is pleased to announce the $8,700,000| $111,538 Per Unit sale of the 78-unit (of 272), Cordillera Luxury Condominiums, located in Phoenix, AZ. Built in 1996 and converted in 2006, the property features a mix of 1, 2 and 3-bedroom unit types, with a weighted average unit size of approximately 1,149 square feet.

"The Buyer for this project plans to sell off the remaining units in the future which speaks to what a great job the sellers did in maintaining the integrity and value of the project through the downturn. The property was meticulously maintained and as well managed as you could imagine," states Eddie Chang, Partner at ABI who represented the Seller.

Located in the Northeast Phoenix Submarket, Cordillera is located across the street from Evergreen Development's Trellis on Bell Project and approximately three (3) miles from both the I-17 and SR-51 Freeways. "The Submarket has witnessed a tremendous amount of economic activity over the past year with over 2,000+ job announcements from companies such as Revana, TeleTech, Peckham and HealthPort to Framers Insurance's $24M regional office expansion," states Doug Lazovick, Partner at ABI, who also represented the Seller in the transaction.

Cordillera is a gated-community that sits on 13.49-acres of land, with over 17 total building structures and a dedicated leasing center. Additional property features include: state-of-the-art fitness center, indoor racquetball court, Tuscan style clubhouse with designer kitchen and custom fireplace, resort style pool, separate lap pool, two spas, pool house with TVs and bar area, gourmet BBQ grill areas and detached garages.

The Seller is a private investment group based out of Arizona.

The Buyer is a private investment group based out of Delaware.

The Phoenix based ABI Multifamily brokerage team of Eddie Chang, Doug Lazovick, John Kobierowski, Alon Shnitzer, and Rue Bax represented the Seller in this transaction.

ABI Multifamily (http://www.abimultifamily.com) is a brokerage and advisory services firm that focuses exclusively on apartment investment transactions. The experienced advisors at ABI Multifamily have completed billions of dollars in sales and thousands of individual multifamily transactions. ABI Multifamily incorporates a global approach with regional real estate expertise to successfully complete any multifamily transaction, regardless of size and complexity.