Texas Investor Snaps Up Midtown Phoenix Apartments For $19M
Club 7 Apartments, a 219-unit property at 3030 North Seventh St. in Phoenix, sold for $19M to an Austin-based investor.
The property is on 7.3 acres in Midtown Phoenix, directly across the street from the Phoenix Country Club. The community, which dates back to 1949 and 1952 (in two phases), underwent major renovation in 2015 and 2016.
Lee & Associates principal Todd Braun and associate Bryson Fricke repped the seller, 3030 North Equity LLC of Portland, Oregon. The property was in high demand with multiple offers, according to Braun. P.B. Acquisitions of Austin acquired the asset. HFF facilitated financing for the deal.