Newmark Knight Frank Negotiates $25.1M Sale of The Colony Apartments in Phoenix
PHOENIX — Newmark Knight Frank (NKF) Multifamily has arranged the sale of The Colony Apartments, a garden-style asset located at 4337 N. 53rd Lane in Phoenix. Vancouver, Canada-based Western Wealth Capital acquired the value-add property for $25.1 million, or $106,355 per unit.
Built in 1979, The Colony Apartments features 236 units spread across 41 one- and two-story buildings.
Brett Polachek, Brad Goff and Chris Canter of NKF Multifamily represented the seller, San Diego-based CALCAP Advisors, in the transaction.