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ZaZu Has Occupancy and Potential to Seal the Deal for Tides
ZaZu Apartment Homes at 1502 E. Osborn Rd. in central Phoenix recently sold to a Los Angeles-based investor for $43.75 million. Toronto-based Emma Capital sold the property to Tides Equities of Los Angeles.
Tides, which is a private capital provider with an institutional background, was self-represented. Chris Roach of Colliers in Arizona represented the seller in the transaction.
“The buyer was attracted to this asset because of its strong occupancy and opportunity to modernize the property finishes and appearance,” said Roach.
ZaZu Apartments offers studio, one- and two-bedroom floorplans averaging 791 square feet with a total of 185 apartment units on 7.13 acres. The units were 99 percent leased at the time of the sale.
The community is surrounded by strong employers, freeway access and proximity to downtown Phoenix.
- ◦Sale/Acquisition
