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PHOENIX — A partnership between Arizona-based Urbana Group and Illinois-based Fringe Capital Partners has purchased Camino Village I & II, an apartment property located at 2015 and 2039 W. Union Hills Drive in Phoenix. A private investor from Santa Barbara, Calif., sold the asset for $16 million.
The property features 80 apartments with 70 percent as two-bedroom layouts averaging 1,000 square feet. Brian Smuckler, Jeff Seaman, Derek Smigiel and Bryson Fricke of CBRE represented the buyers and seller in the deal.