Living Well Homes Divests of 124-Unit Brookfield Multifamily Community in Phoenix for $31M

by Amy Works

PHOENIX — Living Well Homes has completed the sale of Brookfield, an apartment property in Phoenix, to Rise48 Equity for $31 million, or $250,000 per unit.

Built in 1984 on nearly five acres, the community features 124 one- and two-bedroom units, a pool and spa, fitness center, parcel lockers and grilling areas.

Cliff David and Steve Gebing of Institutional Property Advisors (IPA), a division of Marcus & Millichap, represented the seller and procured the buyer in the deal. Brian Eisendrath, Cameron Chalfant and Jake Vitta of IPA Capital Markets arranged the acquisition financing for the buyer.

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