Arboretum at South Mountain in Phoenix Changes Hands for $45.5M

PHOENIX – The 312-unit Arboretum at South Mountain apartment complex in Phoenix has sold to an unnamed buyer for $45.5 million. The community is located at 15251 S. 50th St. in Ahwatukee Foothills, an urban village adjacent to South Mountain Park in Phoenix.

Arboretum at South Mountain is situated near Interstate 10, U.S. Route 60, Loop 101 and the upcoming Loop 202 expansion. Notable employers in the area include Intel, Verizon Wireless, Honeywell, Avnet and Insight.

Steve Gebing of Institutional Property Advisors and Cliff David of Marcus & Millichap’s National Multi Housing Group represented the unnamed seller and procured the buyer.