32-UNIT APARTMENT COMMUNITY SELLS FOR $1.25 MILLION

PHOENIX — Fernwood Developments (USA) Ltd. LLC has purchased Stefan II, a 32-unit apartment community located at 15430 N. 25th St. in Phoenix. The partially completed property sold for $1.25 million. The community features three-bedroom units offering washer/dryer connections and a detached two-car garage. Mark Forrester and Chuck LaBenz of Hendricks & Partners’ Phoenix office represented the seller, Scottsdale, Ariz.-based Stefan II Lender LLC, in the transaction.