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GILBERT, ARIZ. — Berkadia has arranged the sale and financing of Cambria, a garden-style multifamily community in Gilbert, southeast of Phoenix. Utah-based Bridge Investment Group Holdings sold the asset to a California-based private investor for an undisclosed price.
Mark Forrester, Ric Holway, Dan Cheyne and Andrew Curtis of Berkadia Phoenix represented the seller in the transaction. Vincent Punzi and Lowell Takahashi of Berkadia Irvine, Calif., secured $31.5 million in permanent acquisition financing on behalf of the buyer.
Cambria features 174 apartments, averaging 1,022 square feet per unit, with direct-access attached garages, nine-foot ceilings, side-by-side washers/dryers and a full slate of amenities.