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PHOENIX — Berkadia Institutional Solutions has arranged the sale of Vaseo Apartments, a 1,222-unit multifamily community in Phoenix. A partnership led by DivcoWest and Klein Financial Corp. sold the asset to Dallas-based Invesco Real Estate for $325 million.
Vaseo features an onsite café and market, four swimming pool and spa areas, a 42-seat movie theater, fitness center, full-length basketball court, tennis court, sand volleyball court, playground and a large clubhouse with a demonstration kitchen.
Mary Ann King, Brett Betzler, Kaohu Berg-Hee, Mark Forrester of Berkadia, along with CBRE, represented the seller in the deal.