REBusinessOnline

THE COLONY FETCHES $11.6 MILLION IN CASA GRANDE

CASA GRANDE, ARIZ. — Newport Coast, Calif.-based Friedman and Friedman Management Company has purchased The Colony, a multifamily property located at 351 N. Peart Road in Casa Grande. Las Vegas-based Casa Grande Apartments LLC sold the 240-unit property for $11.6 million. Built in 2003, the property offers 32 one-bedroom, 128 two-bedroom and 80 three-bedroom units. Additionally, the community offers a heated pool, a spa and a fitness center. Chuck LaBenz and Art Wadlund of Hendricks & Partners represented the seller in the transaction.

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