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PHOENIX — Clarion Partners has completed the sale of Desert Club, an apartment community in Phoenix, to Weidner Apartment Homes for $187.5 million, or $377,264 per unit.
Built in 2004 on 21 acres, Desert Club features 497 apartments averaging 983 square feet in size. Units feature open-concept floor plans, 9-foot ceilings and arched entryways. Community amenities include a heated, resort-style swimming pool and spa.
Steve Gebing and Cliff David of Institutional Property Advisors (IPA), a division of Marcus & Millichap, represented the seller and procured the buyer in the deal.