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PHOENIX — Kasten Long Commercial Group has arranged the sale of Azura, a 387-unit apartment complex located at 2800 W. Sahuaro Drive in Phoenix. An undisclosed buyer acquired the asset for $38.2 million, or $139.84 per square foot.
Built in 1980, the property features 43 studio/one-bath units, 232 one-bedroom/one-bath apartments, 24 two-bedroom/one-bath units and 88 two-bedroom/two-bath layouts. The average unit size is 706 square feet.
Linda Fritz-Salazar and Scott Trevey of Kasten Long Commercial Group handled the transaction.