REBusinessOnline

Snowdon Partners Sells Elux at Tramonto Multifamily Property in Phoenix for $34.7M

PHOENIX — Arizona-based Snowdon Partners has completed the sale of Elux at Tramonto, a garden-style multifamily property located in Phoenix. An undisclosed buyer acquired the property for $34.7 million.

Located at 35035 N. Valley Parkway, Elux at Tramonto features 138 units in a mix of one-, two- and three-bedroom floor plans with patios or backyards; stainless steel appliances; in-unit washers and dryers; and high-tech amenities. Community amenities include a swimming pool and spa, a select number of detached garages, a clubhouse and fitness center.

Ric Holway, Mark Forrester and Dan Cheyne of Berkadia’s Phoenix office represented the seller in the deal.

Additionally, David Bleiweiss of Berkadia’s Irvine, California, office secured $20.8 million in acquisition financing on behalf of the buyer. The 10-year Freddie Mac loan features a 60 percent loan-to-value ratio and a 30-year amortization schedule.

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