CW Capital Sells 192-Unit Value-Add Apartment Complex in Arizona for $13.9M


Located in Sierra Vista, Ariz., Montego Bay Apartments features 192 apartments spread across 12 two-story apartment buildings.

SIERRA VISTA, ARIZ. — CW Capital Commercial Real Estate Services has completed the disposition of Montego Bay Apartments, a value-add multifamily property located at 409 S. Lenzner Ave. in Sierra Vista. DLP Capital Partners acquired the asset for $13.9 million.

Constructed in 1997, Montego Bay Apartments consists of 12 two-story apartment buildings, offering a total of 134,288 rentable square feet. Situated on nine acres, the property features 192 apartments and was 99 percent occupied at the time of sale.

Karl Albert and Darren Tappen of Kidder Mathews represented the seller in the deal.

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