CBRE BROKERS SALE OF 202-UNIT LUXURY APTS. IN VALLEY OF THE SUN

SCOTTSDALE, ARIZ. — CB Richard Ellis (CBRE) has negotiated the sale of the 202-unit Desert Parks Vista Apartments, a luxury multifamily community located at 9393 E. Palo Brea Drive in Scottsdale. The purchase price was not disclosed. Built in 2005, Desert Parks Vista was 95 percent occupied at the time of sale. Situated within the exclusive DC Ranch master-planned community, the property includes a resort-style swimming pool with spa, a conference room, a state-of-the-art fitness center and a clubhouse with plasma TV and fireplace. CBRE’s Tyler Anderson and Sean Cunningham represented the Scottsdale-based seller, The PB Bell Cos., in the transaction; the buyer, a company formed by Irvine, Calif.-based PASSCO Cos. LLC, was represented by PASSCO’s Gary Goodman.