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Rockwood Capital Sells MetroPointe Apartments Near Phoenix for $96.7M

MetroPointe-Apts-Tempe-AZ

MetroPointe Apartments in Tempe, Ariz., features 415 units, two swimming pools and a spa.

TEMPE, ARIZ. — Rockwood Capital has completed the sale of MetroPointe Apartments, a multifamily property located in Tempe. Cortland acquired the asset for $96.7 million, or $233,133 per unit.

Built in 2009, the property features 415 apartments in a mix of one-, two- and three-bedroom layouts, two swimming pools and a spa.

Steve Gebing and Cliff David of Institutional Property Advisors, a division of Marcus & Millichap, represented the seller and procured the buyer in the deal.

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