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PHOENIX — Orion Investment Real Estate has brokered the sale of Montana on Butler, a multifamily property located on Butler Drive in Phoenix. Artisan Prime, a joint venture between Beverly Hills, Calif.-based Artisan Capital and Newport Beach, Calif.-based Prime Capital Investments, acquired the asset for $24 million, or $160,000 per unit, in an off-market transaction.
Previously known as Cedar Ridge Apartments, the property features 150 apartments.
Linda Fritz-Salazar and Angelessa Ritchie of Orion represented the buyer and seller in the deal.