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Canadian Buyer Pays $21M for Arizona MF

Hamilton Zanze sold The Arbors at 5th Apartments at 805 W. Brown St. in Tempe, AZ. The buyer, Western Wealth Capital of Vancouver, BC in Canada, paid $21.3 million for the Class B property.

The 197-unit property was built in 1967. During its tenure, the San Francisco-based Hamilton Zanze made on-site improvements including a new leasing office, clubhouse and fitness center, as well as upgrades to 64 of the apartments.

“The Arbors at 5th offered the buyer a great value-add opportunity in the heart of the Valley’s most dynamic marketplace, Tempe,” said Cindy Cooke of Colliers International. “(The asset) provides a Class A location, with the ability to add value by renovating the interior of the units.” Cindy Cooke and Colliers’ Brad Cooke represented the seller.

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About Mark El-Rayes

Mark El-Rayes is an award winning designer and photographer from Beirut, Lebanon. El-Rayes has over 15 years in the design industry, 5 years of which he served as a Mass Communication Specialist in the United States Navy at Naval Air Station North Island, Navy Public Affairs Support Element - West (NPASE). El-Rayes is a full-stack developer, seo specialist, photographer, and artist.

  • ◦Sale/Acquisition
  • ◦Sale/Acquisition
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