The Metro Phoenix 5 Portfolio, one of the largest marketed Arizona multifamily portfolios to date, recently sold for a combined $414.5 million or $286,257 per unit. This equates to $334.79 per-square-foot between five properties and 1,448 multifamily units in Chandler, Gilbert and Mesa.

ABI Multifamily‘s Phoenix-based institutional apartment group of Alon Shnitzer, Rue Bax, Eddie Chang and Doug Lazovick facilitated the transaction. The buyer was undisclosed.

“Closing out the month with a transaction of this magnitude is a fantastic way to conclude an incredible year,” says senior partner Shnitzer. “The market has been as active as ever and much of this is due to the continued growth of our city’s economy and the huge demand for housing as more people continue to move to Phoenix. We don’t see things slowing down anytime soon.”