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Phoenix Multifamily

44 Monroe Trades for $51M

Tucson-based HSL Properties acquired 44 Monroe in Downtown Phoenix from Winthrop Realty Trust of Boston for $51M. The building is edged out by the nearby Chase Tower for tallest building in the state, but it is the tallest residential building in Arizona at 34 stories. The deal was a winner for Winthrop, which bought the property only two years ago for $40M, the Phoenix Business Journal reports. It was originally intended to be condos, but became an apartment property. [PBJ]

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