FOR IMMEDIATE RELEASE
Company Website: www.ABImultifamily.com
ABI Brokers $13M Apartment Sale near ASU in Tempe for Los Angeles based MJW Investments & Tides Equities
Phoenix, AZ – April 3, 2018 – ABI Multifamily, the Western US’s leading multifamily brokerage and advisory services firm, is pleased to announce the $13,000,000 / $118,182 Per Unit sale of the ReNue on Orange Apartments located in Tempe, Arizona. Built in 1968, and substantially rehabbed in 2015/16, ReNue is a two and three story, garden-style apartment community that features 110 units in 5 rental buildings of masonry/block construction and master metered for electricity and water. The property has pitched roofs and rests on approximately 2.81-acres. The unit mix consists of (52) one-bedroom / one-bathroom units and (58) two-bedroom / two-bathroom units, with a weighted average size of 896 square feet.
The buyer, MJW Investments, Inc, & Tide Equities, LLC are private investment firms based in California.
The seller, ReNue Properties, is a private investment firm based in Arizona.
The multifamily brokerage team of Eddie Chang, Doug Lazovick, Ryan Smith, John Kobierowski, Alon Shnitzer and Rue Bax represented the buyer in this transaction.
ABI Multifamily is a brokerage and advisory services firm that focuses exclusively on apartment investment transactions. With offices in Phoenix, Tucson and San Diego, the experienced advisors at ABI Multifamily have completed billions of dollars in sales and thousands of individual multifamily transactions. ABI Multifamily incorporates a global approach with regional real estate expertise to successfully complete any multifamily transaction, regardless of size and complexity.