316-UNIT SAN TROPEZ APARTMENTS FETCHES $29 MILLION

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SCOTTSDALE, ARIZ. — NALS Arizona, an affiliate of Santa Barbara, Calif.-based Nevins Adams Lewbel Schell, has acquired San Tropez, a 316-unit upscale apartment community located at 2700 N. Hayden Rd. in Scottsdale. Chicago-based BEL-EQR | Limited Partnership sold the property for $29 million. Built in 1989, the community was 93 percent occupied at the time of acquisition. The property features a resort-style swimming pool with spa, sand volleyball courts, a clubhouse and a fitness center. Tyler Anderson and Sean Cunningham of CB Richard Ellis’ Phoenix office represented the seller in the deal.

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