Denali Apartments LLC Acquires 286-Unit MultiFamily Complex In Phoenix For $34.7M

The sale involved a multi-family asset located at 5145 North 7th Street, Phoenix, AZ, consisting of 286 units. The transaction closed at a price of $34,700,000. The property encompasses a total square footage of 154,282, leading to a price per square foot of $225 and a price per unit of $121,329. Significant upgrades were made to the complex since 2021.

Summary of transaction details:

• Property Type: MultiFamily
• Transaction Amount: $34,700,000
• Units: 286
• Square Footage: 154,282
• Price per Square Foot: $225
• Price per Unit: $121,329
• Buyer: Denali Apartments LLC
• Brokers: David Fogler & Steven Nicoluzakis - Cushman & Wakefield

Denali Apartments LLC acquired the Seventh apartment complex, which features multiple unit types, pools, laundry facilities, and a fitness center. Cushman & Wakefield represented the sellers in this transaction, highlighting their involvement in managing the sale process.