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Sares-Regis Sells Phoenix Apartment Community for $90M
Alanza Place Apartments in Phoenix traded hands for more than $90 million. The 360-unit multifamily asset was acquired by a group of investors led by Colorado investor Daniel Feiner. The seller was an entity affiliated with Irvine, CA-based Sares-Regis Group.
The 344,194-square-foot property at 1121 N. 44th St. includes eight, three- and four-story buildings. The community sits on 8.6-acres and was built in 2002. It includes 191 one-bedroom units, 161 two-bedrooms and eight three-bedrooms. The property also includes 56 garages and 370 parking spaces.
Berkadia’s Andrew Curtis, Mark Forrester and Dan Cheyne represented the seller. Berkadia also arranged $56,362,000 in new Freddie Mac debt for the deal.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition

