FOUNTAIN VILLAS TRADES HANDS FOR $3.1 MILLION

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SCOTTSDALE, ARIZ. — A private investor from Regina, Saskatchewan, Canada, has purchased Fountain Villas, a 20-unit apartment community in Scottsdale, for $3.1 million or $155,000 per unit. Located at 7325 E. Belleview St., the four-building community offers two studio units, 16 two-bedroom/one-and-a-half bath units and two three-bedroom/two-and-a-half bath units. At the time of acquisition, the property was 100 percent occupied. Robin Orscheln of Sotheby’s International Realty represented the buyer; Jeff Sherman and Bill Hahn of Sperry Van Ness’ Phoenix office represented the seller, a private investor from Phoenix, in the transaction.

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