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CWS Sells 370-Unit N. Phoenix Apartment Complex
IMT Capital acquired Marquis at Desert Ridge, a community situated in the Desert Ridge neighborhood in north Phoenix.
Located at 21155 N. 56th Street in Phoenix, the four-story IMT at Desert Ridge community is a 370-unit property situated on approximately 13 acres. IMT has rebranded the property as IMT Desert Ridge. It’s 92% occupied.
Commercial Edge reports IMT Desert Ridge last traded hands in 2015. CWS Capital Partners acquired the community for $77.5 million with a loan originated by Berkadia.
Completed in 2014, the community features a resident clubhouse with a pool, fitness center, entertaining kitchen, billiard room, business center and 640 parking spaces.
CBRE’s Asher Gunter, Matt Pesch, Sean Cunningham and Austin Groen represented the seller in the transaction.
