Sares Regis Divests of 250-Unit Sedona Ridge Multifamily Community in Phoenix
PHOENIX — Sares Regis Multifamily Funds has completed the sale of Sedona Ridge, a garden-style apartment property located at 5010 E. Cheyenne Drive in Phoenix. Terms of the transaction were not released.
Sedona Ridge features 250 apartments in a mix of one-, two- and three-bedroom units, averaging 941 square feet, with full-size washers/dryers and private patios or balconies. The community offers two swimming pools and spas, a renovated fitness center, sand volleyball court, detached garages, dog park, package locker system, outdoor picnic area and clubhouse.
Mike Higgins, John Cunningham and Charles Steele of JLL Capital Markets represented the seller in the transaction.