PHOENIX — Greenwater Investments has completed the disposition of Villas Los Limones, an apartment community in Phoenix. Rincon Partners acquired the asset for $58.2 million, or $260,000 per unit.
Situated on nine acres, Villas Los Limones features 224 apartments spread across 18 buildings. The average apartment size is 678 square feet. Community amenities include a pool, clubhouse and laundry facilities.
Cliff David, Steve Gebing, Hamid Panahi and Clint Wadlund of Institutional Property Advisors, a division of Marcus & Millichap, represented the seller and procured the buyer in the deal.