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Phoenix’s Sanctuary on 22nd Sold for $32M
Sanctuary on 22nd, a 266-unit apartment community in the heart of Phoenix, has traded hands for $31.8 million. The seller was Laguna Point Properties, while the buyer was an undisclosed private investor.
Built in 1985 at 8530 N. 22nd Ave., the property totals 266 apartment homes with a mix of one and two bedrooms. The community sits on 10 acres between Dunlap and Northern avenues, less than one-half mile from Interstate 17 and a METRO Light Rail station.
JLL’s John Cunningham and Charles Steele led the capital markets team handling the deal on behalf of the seller.
Steele says, “Sanctuary on 22nd is a significant value-add opportunity in an area with high demand and minimal new multifamily construction. That, combined with its close proximity to I-17 and Light Rail, make Sanctuary on 22nd a very well-positioned asset in one of the healthiest local apartment markets in the country.”
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition

